Exhibit 99.5

		Monthly Operating Report
CASE NAME:	KH Ground, Inc.	ACCRUAL BASIS
		2008
CASE NUMBER:	07-44540
JUDGE:  Russell F. Nelms

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DIVISION 6

MONTHLY  OPERATING  REPORT

MONTH  ENDING:  APRIL 30, 2008

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.

RESPONSIBLE PARTY:
/s/James R. Kupferschmid	Senior VP and Chief Restructing Officer
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY	TITLE
James R. Kupferschmid	May 20, 2008
PRINTED NAME OF RESPONSIBLE PARTY	DATE
PREPARER:
/s/ Jessica L. Wilson	VP and Chief Financial Officer
ORIGINAL SIGNATURE OF PREPARER	TITLE
Jessica L. Wilson	May 20, 2008
PRINTED NAME OF PREPARER	DATE

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-1
	2008
CASE NUMBER: 07-44540

COMPARATIVE  BALANCE  SHEET

		SCHEDULE		MONTH
		AMOUNT		April 2008			MONTH		MONTH
ASSETS
1.	UNRESTRICTED CASH	$	0	$	0		$	0	$	0
2.	RESTRICTED CASH	$	0	$	0		$	0	$	0
3.	TOTAL CASH	$	0	$	0		$	0	$	0
4.	ACCOUNTS RECEIVABLE (NET)	$	0	$	0		$	0	$	0
5.	INVENTORY	$	0	$	0		$	0	$	0
6.	NOTES RECEIVABLE	$	0	$	0		$	0	$	0
7.	PREPAID EXPENSES	$	0	$	0		$	0	$	0
8.	OTHER (ATTACH LIST)	$	0	$	0		$	0	$	0
9.	TOTAL CURRENT ASSETS	$	0	$	0		$	0	$	0
10.	PROPERTY, PLANT  & EQUIPMENT	$	0	$	0		$	0	$	0
11.	LESS: ACCUMULATED DEPRECIATION / DEPLETION	$	0	$	0		$	0	$	0
12.	NET PROPERTY, PLANT  & EQUIPMENT	$	0	$	0		$	0	$	0
13.	DUE FROM INSIDERS	$	0	$	0		$	0	$	0
14.	OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)	$	0	$	0		$	0	$	0
15.	OTHER (ATTACH LIST)	$	0	$	0		$	0	$	0
16.	TOTAL ASSETS	$	0	$	0		$	0	$	0
POSTPETITION LIABILITIES
17.	ACCOUNTS PAYABLE			$	0		$	0	$	0
18.	TAXES PAYABLE			$	0		$	0	$	0
19.	NOTES PAYABLE			$	0		$	0	$	0
20.	PROFESSIONAL FEES			$	0		$	0	$	0
21.	SECURED DEBT			$	0		$	0	$	0
22.	OTHER (ATTACH LIST)			$	0		$	0	$	0
23.	TOTAL POSTPETITION LIABILITIES			$	0		$	0	$	0
PREPETITION LIABILITIES
24.	SECURED DEBT	$	16,684,744	$	0		$	0	$	0
25.	PRIORITY DEBT	$	0	$	0		$	0	$	0
26.	UNSECURED DEBT	$	0	$	0		$	0	$	0
27.	OTHER (ATTACH LIST)	$	0	$	575		$	0	$	0
28.	TOTAL PREPETITION LIABILITIES	$	16,684,744	$	575		$	0	$	0
29.	TOTAL LIABILITIES	$	16,684,744	$	575		$	0	$	0
EQUITY
30.	PREPETITION OWNERS’ EQUITY	0		$	0		$	0	$	0
31.	POSTPETITION CUMULATIVE PROFIT OR (LOSS)			$	(575	)	$	0	$	0
32.	DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)			$	0		$	0	$	0
33.	TOTAL EQUITY	$	0	$	(575	)	$	0	$	0
34.	TOTAL LIABILITIES  & OWNERS’ EQUITY	$	16,684,744	$	0		$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-2
	2008
CASE NUMBER: 07-44540

INCOME STATEMENT

		MONTH		MONTH		MONTH		QUARTER
		April 2008		0		0		TOTAL
REVENUES
1.	GROSS REVENUES	$	0	$	0	$	0	$	0
2.	LESS: RETURNS & DISCOUNTS	$	0	$	0	$	0	$	0
3.	NET REVENUE	$	0	$	0	$	0	$	0
COST OF GOODS SOLD
4.	MATERIAL	$	0	$	0	$	0	$	0
5.	DIRECT LABOR	$	0	$	0	$	0	$	0
6.	DIRECT OVERHEAD	$	0	$	0	$	0	$	0
7.	TOTAL COST OF GOODS SOLD	$	0	$	0	$	0	$	0
8.	GROSS PROFIT	$	0	$	0	$	0	$	0
OPERATING EXPENSES
9.	OFFICER / INSIDER COMPENSATION	$	0	$	0	$	0	$	0
10.	SELLING  & MARKETING	$	0	$	0	$	0	$	0
11.	GENERAL & ADMINISTRATIVE	$	0	$	0	$	0	$	0
12.	RENT  & LEASE	$	0	$	0	$	0	$	0
13.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
14.	TOTAL OPERATING EXPENSES	$	0	$	0	$	0	$	0
15.	INCOME BEFORE NON-OPERATING							$	0
	INCOME & EXPENSE	$	0	$	0	$	0	$	0
OTHER INCOME  & EXPENSES
16.	NON-OPERATING INCOME (ATT. LIST)	$	0	$	0	$	0	$	0
17.	NON-OPERATING EXPENSE (ATT. LIST)	$	0	$	0	$	0	$	0
18.	INTEREST EXPENSE	$	0	$	0	$	0	$	0
19.	DEPRECIATION / DEPLETION	$	0	$	0	$	0	$	0
20.	AMORTIZATION	$	0	$	0	$	0	$	0
21.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
22.	NET OTHER INCOME & EXPENSES	$	0	$	0	$	0	$	0
REORGANIZATION EXPENSES
23.	PROFESSIONAL FEES	$	0	$	0	$	0	$	0
24.	U.S. TRUSTEE FEES	$	0	$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
26.	TOTAL REORGANIZATION EXPENSES	$	0	$	0	$	0	$	0
27.	INCOME TAX	$	0	$	0	$	0
28.	NET PROFIT (LOSS)	$	0	$	0	$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-3
	2008
CASE NUMBER: 07-44540

		MONTH		MONTH		MONTH		QUARTER
		April 2008		0		0		TOTAL
CASH RECEIPTS AND DISBURSEMENTS
1.	CASH - BEGINNING OF MONTH	$	0	$	0	$	0	$	0
RECEIPTS FROM OPERATIONS
2.	CASH SALES	$	0	$	0	$	0	$	0
COLLECTION OF ACCOUNTS RECEIVABLE
3.	PREPETITION	$	0	$	0	$	0	$	0
4.	POSTPETITION	$	0	$	0	$	0	$	0
5.	TOTAL OPERATING RECEIPTS	$	0	$	0	$	0	$	0
NON - OPERATING RECEIPTS
6.	LOANS  & ADVANCES (ATTACH LIST)	$	0	$	0	$	0	$	0
7.	SALE OF ASSETS	$	0	$	0	$	0	$	0
8.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
9.	TOTAL NON-OPERATING RECEIPTS	$	0	$	0	$	0	$	0
10.	TOTAL RECEIPTS	$	0	$	0	$	0	$	0
11.	TOTAL CASH AVAILABLE	$	0	$	0	$	0	$	0
OPERATING DISBURSEMENTS
12.	NET PAYROLL	$	0	$	0	$	0	$	0
13.	PAYROLL TAXES PAID	$	0	$	0	$	0	$	0
14.	SALES, USE  & OTHER TAXES PAID	$	0	$	0	$	0	$	0
15.	SECURED / RENTAL / LEASES	$	0	$	0	$	0	$	0
16.	UTILITIES	$	0	$	0	$	0	$	0
17.	INSURANCE	$	0	$	0	$	0	$	0
18.	INVENTORY PURCHASES	$	0	$	0	$	0	$	0
19.	VEHICLE EXPENSES	$	0	$	0	$	0	$	0
20.	TRAVEL	$	0	$	0	$	0	$	0
21.	ENTERTAINMENT	$	0	$	0	$	0	$	0
22.	REPAIRS  & MAINTENANCE	$	0	$	0	$	0	$	0
23.	SUPPLIES	$	0	$	0	$	0	$	0
24.	ADVERTISING	$	0	$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
26.	TOTAL OPERATING DISBURSEMENTS	$	0	$	0	$	0	$	0
REORGANIZATION EXPENSES
27.	PROFESSIONAL FEES	$	0	$	0	$	0	$	0
28.	U.S. TRUSTEE FEES	$	0	$	0	$	0	$	0
29.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
30.	TOTAL REORGANIZATION EXPENSES	$	0	$	0	$	0	$	0
31.	TOTAL DISBURSEMENTS	$	0	$	0	$	0	$	0
32.	NET CASH FLOW	$	0	$	0	$	0	$	0
33.	CASH - END OF MONTH	$	0	$	0	$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-4
	2008
CASE NUMBER: 07-44540

		SCHEDULE		MONTH		MONTH		MONTH
ACCOUNTS RECEIVABLE AGING		AMOUNT		April 2008		0		0
1.	0-30	$	0	$	0	$	0	$	0
2.	31-60	$	0	$	0	$	0	$	0
3.	61-90	$	0	$	0	$	0	$	0
4.	91+	$	0	$	0	$	0	$	0
5.	TOTAL ACCOUNTS RECEIVABLE	$	0	$	0	$	0	$	0
6.	AMOUNT CONSIDERED UNCOLLECTIBLE	$	0	$	0	$	0
7.	ACCOUNTS RECEIVABLE (NET)	$	0	$	0	$	0	$	0

AGING OF POSTPETITION TAXES AND PAYABLES MONTH: April 2008

		0-30		31-60		61-90		91+
TAXES PAYABLE		DAYS		DAYS		DAYS		DAYS		TOTAL
1.	FEDERAL	$	0	$	0	$	0	$	0	$	0
2.	STATE	$	0	$	0	$	0	$	0	$	0
3.	LOCAL	$	0	$	0	$	0	$	0	$	0
4.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0	$	0
5.	TOTAL TAXES PAYABLE	$	0	$	0	$	0	$	0	$	0
6.	ACCOUNTS PAYABLE	$	0	$	0	$	0	$	0	$	0

STATUS OF POSTPETITION TAXES MONTH: April 2008

		BEGINNING		AMOUNT				ENDING
		TAX		WITHHELD AND/		AMOUNT		TAX
		LIABILITY*		0R ACCRUED		PAID		LIABILITY
FEDERAL
1.	WITHHOLDING**	$	0	$	0	$	0	$	0
2.	FICA-EMPLOYEE**	$	0	$	0	$	0	$	0
3.	FICA-EMPLOYER**	$	0	$	0	$	0	$	0
4.	UNEMPLOYMENT	$	0	$	0	$	0	$	0
5.	INCOME	$	0	$	0	$	0	$	0
6.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
7.	TOTAL FEDERAL TAXES	$	0	$	0	$	0	$	0
STATE AND LOCAL
8.	WITHHOLDING	$	0	$	0	$	0	$	0
9.	SALES	$	0	$	0	$	0	$	0
10.	EXCISE	$	0	$	0	$	0	$	0
11.	UNEMPLOYMENT	$	0	$	0	$	0	$	0
12.	REAL PROPERTY	$	0	$	0	$	0	$	0
13.	PERSONAL PROPERTY	$	0	$	0	$	0	$	0
14.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
15.	TOTAL STATE  & LOCAL	$	0	$	0	$	0	$	0
16.	TOTAL TAXES	$	0	$	0	$	0	$	0

*	The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
**	Attach photocopies of IRS Form  6123 or your FTD coupon and payment receipt to verify payment or deposit.

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-5
	2008
CASE NUMBER: 07-44540

The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

BANK RECONCILIATIONS MONTH: April 2008

		Account #1		Account #2		Account #3		TOTAL
A.	BANK:	No Accounts
B.	ACCOUNT NUMBER:
C.	PURPOSE (TYPE:)
1.	BALANCE PER BANK STATEMENT
2.	ADD: TOTAL DEPOSITS NOT CREDITED
3.	SUBTRACT: OUTSTANDING CHECKS
4.	OTHER RECONCILING ITEMS
5.	MONTH END BALANCE PER BOOKS	$	0	$	0	$	0	$	0
6.	NUMBER OF LAST CHECK WRITTEN

INVESTMENT ACCOUNTS

		DATE OF	TYPE OF	PURCHASE		CURRENT
BANK, ACCOUNT NAME  & NUMBER		PURCHASE	INSTRUMENT	PRICE		VALUE
7.
8.
9.
10.
11.	TOTAL INVESTMENTS			$	0	$	0

CASH

12.	CURRENCY ON HAND	$	0
13.	TOTAL CASH - END OF MONTH	$	0

	Monthly Operating Report
CASE NAME:  KH Ground, Inc.	ACCRUAL BASIS-6
	2008
CASE NUMBER: 07-44540
	MONTH:	April 2008

PAYMENTS TO INSIDERS AND PROFESSIONALS

OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION  101 (31) (A)-(F)  OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.

INSIDERS
		TYPE OF	AMOUNT		TOTAL PAID
NAME		PAYMENT	PAID		TO DATE
1.	No insiders
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO INSIDERS		$	0	$	0

		PROFESSIONALS
NAME		DATE OF COURT ORDER AUTHORIZING PAYMENT	AMOUNT APPROVED		AMOUNT PAID		TOTAL PAID TO DATE		TOTAL INCURRED & UNPAID*
1.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO PROFESSIONALS		$	0	$	0	$	0	$	0

* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

		SCHEDULED		AMOUNTS
		MONTHLY		PAID		TOTAL
		PAYMENTS		DURING		UNPAID
NAME OF CREDITOR		DUE		MONTH		POSTPETITION
1.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL	$	0	$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-7
	2008
CASE NUMBER: 07-44540
	MONTH:	April 2008

QUESTIONNAIRE
		YES	NO
1.	HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE
	THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?		X
2.	HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT
	OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?		X
3.	ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR
	LOANS) DUE FROM RELATED PARTIES?		X
4.	HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES
	THIS REPORTING PERIOD?		X
5.	HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE
	DEBTOR FROM ANY PARTY?		X
6.	ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?		X
7.	ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES
	PAST DUE?		X
8.	ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?		X
9.	ARE ANY OTHER POSTPETITION TAXES PAST DUE?		X
10.	ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS
	DELINQUENT?		X
11.	HAVE ANY PREPETITION TAXES BEEN PAID DURING THE
	REPORTING PERIOD?		X
12.	ARE ANY WAGE PAYMENTS PAST DUE?		X

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.

INSURANCE

		YES	NO
1.	ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER
	NECESSARY INSURANCE COVERAGES IN EFFECT?		X
2.	ARE ALL PREMIUM PAYMENTS PAID CURRENT?		X
3.	PLEASE ITEMIZE POLICIES BELOW.

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.

This is a non-operating entity with no assets or employees and therefore has no insurance policies

	INSTALLMENT PAYMENTS
TYPE OF			PAYMENT AMOUNT
POLICY	CARRIER	PERIOD COVERED	& FREQUENCY
No insurance due to being a non- operating entity with no assets or employees

	Footnotes Supplement
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS
	2008
CASE NUMBER: 07-44540
	MONTH:	April 2008

Accrual Basis	Line
Form Number	Number	Footnote/Explanation
General		This is a non-operating entity.

Case Name:	KH Ground, Inc.
Case Number:	07-44540
Details of Other Items

	April 2008
ACCRUAL BASIS - 1
27. OTHER (ATTACH LIST)	575	Reported
Intercompany Payable to Kitty Hawk, Inc. (Case No. 07-44536)	575
	575	Detail
	0	Difference