SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: October 29, 1998
CCAIR, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-17486 56-1428192
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(State or other jurisdiction (Commission file Number) (IRS Employee
of incorporation) Identification No.)
P. O. Box 19929, Charlotte, North Carolina 28219-0929
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(Address of principal executive offices)
Registrant's telephone number, including area code (704) 359-8990
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
On October 14, 1998, CCAIR, Inc. (the "Company") entered into a lease
agreement for a Canadian-made, Bombardier de Havilland Dash 8 aircraft that is
covered by economic development insurance provided by Her Majesty the Queen in
Right of Canada as represented by the Ministry of Industry, Science and
Technology (the "Ministry"). As a result, the Company has resolved all claims by
the Ministry, including a purported claim of $16,996,995, as long as the Company
fulfills its obligations under the lease. A copy of the press release announcing
the new lease agreement and resulting settlement is attached as Exhibit 99.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CCAIR, Inc.
Date: October 29, 1998 /s/
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Eric W. Montgomery
Vice President
EXHIBIT 99
FOR IMMEDIATE RELEASE
FOR: CCAIR, Inc. CONTACT: Eric Montgomery
P. O. Box 19928 704/359-5304
Charlotte, NC 28219-0929 DATE: October 28, 1998
CCAIR SETTLES INDUSTRY CANADA CLAIM
CHARLOTTE, NC - Oct. 28 /PRNewswire/ -- CCAIR, Inc. (Nasdaq: CCAR), an
independent airline operating as US Airways Express in the southeast United
States announced today that it has successfully consummated a lease agreement
for a Canadian-made, Bombardier de Havilland Dash 8 aircraft that is covered by
economic development insurance provided by Her Majesty the Queen in Right of
Canada as represented by the Ministry of Industry, Science and Technology (the
"Ministry"). As a result of entering into the lease agreement, CCAIR has
resolved all claims by the Ministry, including a purported claim of $16,996,995,
as long as CCAIR fulfills its obligations under the lease for the new aircraft.
CCAIR President and Chief Executive Officer Ken Gann stated that "On
behalf of our shareholders, employees and business partners I am satisfied that
we were able to resolve our differences in a productive manner that was
beneficial to both CCAIR and the Canadian government."
CCAIR is one of nine US Airways Express carriers. Through a marketing
agreement with US Airways, US Airways Express passengers receive through fares,
reservations and ticketing services, advance seat assignments and checked
baggage to their final destination. Participating passengers receive a minimum
of 500 miles credit for each flight in US Airways' Dividend Miles program. As
part of a new reciprocal marketing relationship, Dividend Miles members may now
claim their awards on American Airlines flights as well.
US Airways Express operates nearly 2,600 daily flights with service
throughout the U.S., Canada and the Bahamas. For additional information, contact
your professional travel consultant or US Airways reservations at (800)
428-4322. Visit US Airways World Wide Web site at www.usairways.com.
