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: January 3, 1997
Commission File Number 0-27238
WESTERN PACIFIC AIRLINES
(Exact Name of Registrant as Specified in Its Charter)
Delaware 86-0758778
(State or other jurisdiction (I.R.S. employer
of incorporation or organization) identification number)
2864 South Circle Drive, Suite 1100
Colorado Springs, Colorado 80906
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (719) 579-7737
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Item 5 - Other Events
On December 18, 1996, the Company borrowed $2.5 million from Hunt Petroleum of
Texas, Inc. ("HPTI") and on December 20, 1996, the Company borrowed $2.5
million from GFI Company ("GFI") under terms that anticipate repayment in 30
days. HPTI and GFI are major stockholders of the Company. The loans are
intended to supplement the cash available to the Company to pay certain
obligations before year end. Additional funds may be advanced to the Company
in the near term in order to further increase the Company's working capital.
It is anticipated that these loans will be converted into some form of longer
term convertible security prior to the maturity date, although neither HPTI
nor GFI has agreed to such a conversion at this time and there can be no
assurance that the Company will be able to negotiate a conversion or extension
of the loans.
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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.
WESTERN PACIFIC AIRLINES, INC.
By:/s/ ROBERT A. PEISER
------------------------
Robert A. Peiser
President and Chief Executive Officer
Date: January 3, 1997.
