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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: April 23, 1998
RENO AIR, INC.
(Exact name of registrant as specified in its charter)
Nevada 0-20360 88-0259913
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
220 Edison Way 89502
Reno, Nevada 89502 (Zip Code)
(Address of Principal Executive Offices)
(702) 954-5000
(Registrant's telephone number, including area code)
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ITEM 5. Other Events
On April 23, 1998, Reno Air, Inc. ("Reno Air") issued a news release
announcing that it had significantly reduced its workforce pursuant to a
restructuring of its organization. The news release is attached hereto as
Exhibit 99.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Designation Description
- ----------- -----------
99 Reno Air news release dated April 23, 1998, announcing
that it had significantly reduced its workforce pursuant
to a restructuring of its organization.
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, thereunto duly authorized.
RENO AIR, INC.
By: /s/ Steven A. Rossum
Steven A. Rossum
Senior Vice President, General Counsel
and Corporate Secretary
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EXHIBIT 99
RENO AIR SIGNIFICANTLY REDUCING WORKFORCE
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RENO, Nev., April 23, 1998 -- Reno Air, Inc. [(NASDAQ: RENO), (PCX: RNO)] today
announced a significant restructuring of its organization. With the focus on
restoring profitability while improving the product, a complete evaluation of
the corporate structure has been completed.
From that evaluation, processes have been streamlined, consolidations have been
put in place, the revenue accounting function will be outsourced, and staffing
levels have been modified.
As a result, including the station closings and schedule reductions already
announced, 330 jobs will be eliminated by summer representing approximately 15%
of the workforce. Within this, are included about 70 management and
administrative positions, representing 20% of those classifications, and 5 of 11
senior management positions.
"Changes like this are difficult," said Reno Air CEO Joe O'Gorman. "But if we
are to make progress toward profitability, they are absolutely necessary. There
are still cost reductions that need to occur, and this is a first step in that
direction."
Affected employees will get pay and benefits based on longevity and the Company
will work with them to find other employment.
As the Company reported earlier, job vacancies have been closed and there are no
further schedule reductions planned.
"Simply, we are going to do what we do better, and at less cost," said O'Gorman.
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Contacts: Reno Air Corporate Communications - (702) 954-5000
Connie Huff, extension 4326
