EXHIBIT 99.5
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC. ACCRUAL BASIS
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
JUDGE: BARBARA J. HOUSER
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
SIXTH DIVISION
MONTHLY OPERATING REPORT
MONTH ENDING: SEPTEMBER 30, 2000
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/ DREW KEITH CHIEF FINANCIAL OFFICER
--------------------------------------- ---------------------------
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
DREW KEITH 10/20/00
--------------------------------------- ---------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ KEVIN K. CRAIG CONTROLLER, KITTY HAWK INC.
--------------------------------------- ---------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
KEVIN K. CRAIG 10/20/00
--------------------------------------- ---------------------------
PRINTED NAME OF PREPARER DATE
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-1
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
<TABLE>
<CAPTION>
----------------------------------------------------------
COMPARATIVE BALANCE SHEET
-----------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
SCHEDULE -------------------------------------------------------
ASSETS AMOUNT JULY, 2000 AUGUST, 2000 SEPTEMBER, 2000
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1. UNRESTRICTED CASH $24,818 $36,240 $81,096
-----------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $0
-----------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $0 $24,818 $36,240 $81,096
-----------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $41,314,895 $39,582,675 $43,225,245 $43,968,441
-----------------------------------------------------------------------------------------------------------------
5. INVENTORY $0 $0
-----------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $0 $0
-----------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $35,445 $35,445 $35,446 $110,446
-----------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $102,257,281 $34,081,081 $30,978,685 $30,412,552
-----------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $143,607,621 $73,724,019 $74,275,616 $74,572,535
-----------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $2,455,211 $4,328,546 $4,328,546 $4,694,719
-----------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION/DEPLETION $1,991,045 $2,035,862 $2,287,775
-----------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $2,455,211 $2,337,501 $2,292,684 $2,406,944
-----------------------------------------------------------------------------------------------------------------
13. DUE FROM INSIDERS $0 $0
-----------------------------------------------------------------------------------------------------------------
14. OTHER ASSETS - NET OF
AMORTIZATION (ATTACH LIST) $0 $0
-----------------------------------------------------------------------------------------------------------------
15. OTHER (ATTACH LIST) $0 $0
-----------------------------------------------------------------------------------------------------------------
16. TOTAL ASSETS $146,062,832 $76,061,520 $76,568,300 $76,979,479
-----------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
-----------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $1,168,157 $539,558 $517,813
-----------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE $0 $949,645 $662,951
-----------------------------------------------------------------------------------------------------------------
19. NOTES PAYABLE $0 $0
-----------------------------------------------------------------------------------------------------------------
20. PROFESSIONAL FEES $0 $0
-----------------------------------------------------------------------------------------------------------------
21. SECURED DEBT $0 $0
-----------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) $1,856,635 $1,521,667 $2,077,570
-----------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES $3,024,792 $3,010,870 $3,258,334
-----------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
-----------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $0 $0
-----------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $496,687 $0 $0
-----------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $78,864,376 $4,826,735 $5,091,940 $5,093,592
-----------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $5,917,795 $5,606,365 $5,606,155
-----------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $79,361,063 $10,744,530 $10,698,305 $10,699,747
-----------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $79,361,063 $13,769,322 $13,709,175 $13,958,081
-----------------------------------------------------------------------------------------------------------------
EQUITY
-----------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $62,156,580 $62,156,580 $62,156,580
-----------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) $135,618 $702,545 $864,818
-----------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION) $0 $0 $0
-----------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $0 $62,292,198 $62,859,125 $63,021,398
-----------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $79,361,063 $76,061,520 $76,568,300 $76,979,479
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-2
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
INCOME STATEMENT
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
---------------------------------------------- QUARTER
REVENUES JULY, 2000 AUGUST, 2000 SEPTEMBER, 2000 TOTAL
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. GROSS REVENUES $12,444,119 $16,910,056 $16,154,606 $45,508,781
--------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $0 $0
--------------------------------------------------------------------------------------------------------
3. NET REVENUE $12,444,119 $16,910,056 $16,154,606 $45,508,781
--------------------------------------------------------------------------------------------------------
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 $12,444,119 $16,910,056 $16,154,606 $45,508,781
--------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
--------------------------------------------------------------------------------------------------------
9. OFFICER/INSIDER COMPENSATION $9,615 $10,775 $10,903 $31,293
--------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $5,475 $0 $0 $5,475
--------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE $916,978 $1,031,195 $793,525 $2,741,698
--------------------------------------------------------------------------------------------------------
12. RENT & LEASE $314,899 $294,402 $299,718 $909,019
--------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $11,500,459 $14,420,561 $14,504,305 $40,425,325
--------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $12,747,426 $15,756,933 $15,608,451 $44,112,810
--------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE ($303,307) $1,153,123 $546,155 $1,395,971
--------------------------------------------------------------------------------------------------------
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 $202,131 $163,430 $200,123 $565,684
--------------------------------------------------------------------------------------------------------
19. DEPRECIATION/DEPLETION $44,816 $44,818 $75,332 $164,966
--------------------------------------------------------------------------------------------------------
20. AMORTIZATION $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES $246,947 $208,248 $275,455 $730,650
--------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
--------------------------------------------------------------------------------------------------------
23. PROFESSIONAL FEES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------
24. U.S. TRUSTEE FEES $0 $0 $250 $250
--------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------
26. TOTAL REORGANIZATION EXPENSES $0 $0 $250 $250
--------------------------------------------------------------------------------------------------------
27. INCOME TAX ($220,102) $377,950 $108,180 $266,028
--------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) ($330,152) $566,925 $162,270 $399,043
--------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-3
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND --------------------------------------------------- QUARTER
DISBURSEMENTS JULY, 2000 AUGUST, 2000 SEPTEMBER, 2000 TOTAL
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH $25,340 $24,819 $36,242 $25,340
---------------------------------------------------------------------------------------------------------
RECEIPTS FROM OPERATIONS
---------------------------------------------------------------------------------------------------------
2. CASH SALES $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
COLLECTION OF ACCOUNTS RECEIVABLE
---------------------------------------------------------------------------------------------------------
3. PREPETITION $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
4. POSTPETITION $10,340,192 $10,194,561 $11,134,549 $31,669,304
---------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING RECEIPTS $10,340,192 $10,194,561 $11,134,549 $31,669,304
---------------------------------------------------------------------------------------------------------
NON - OPERATING RECEIPTS
---------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) ($10,340,713) ($10,183,140) ($11,089,695) ($31,613,548)
---------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS ($10,340,713) ($10,183,140) ($11,089,695) ($31,613,548)
---------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS ($521) $11,421 $44,854 $55,756
---------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $24,819 $36,240 $81,096 $81,096
---------------------------------------------------------------------------------------------------------
OPERATING DISBURSEMENTS
---------------------------------------------------------------------------------------------------------
12. NET PAYROLL $0
---------------------------------------------------------------------------------------------------------
13. PAYROLL TAXES PAID $0
---------------------------------------------------------------------------------------------------------
14. SALES, USE & OTHER TAXES PAID $0
---------------------------------------------------------------------------------------------------------
15. SECURED/RENTAL/LEASES $0
---------------------------------------------------------------------------------------------------------
16. UTILITIES $0
---------------------------------------------------------------------------------------------------------
17. INSURANCE $0
---------------------------------------------------------------------------------------------------------
18. INVENTORY PURCHASES $0
---------------------------------------------------------------------------------------------------------
19. VEHICLE EXPENSES $0
---------------------------------------------------------------------------------------------------------
20. TRAVEL $0
---------------------------------------------------------------------------------------------------------
21. ENTERTAINMENT $0
---------------------------------------------------------------------------------------------------------
22. REPAIRS & MAINTENANCE $0
---------------------------------------------------------------------------------------------------------
23. SUPPLIES $0
---------------------------------------------------------------------------------------------------------
24. ADVERTISING $0
---------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $0
---------------------------------------------------------------------------------------------------------
26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
---------------------------------------------------------------------------------------------------------
27. PROFESSIONAL FEES $0
---------------------------------------------------------------------------------------------------------
28. U.S. TRUSTEE FEES $0
---------------------------------------------------------------------------------------------------------
29. OTHER (ATTACH LIST) $0
---------------------------------------------------------------------------------------------------------
30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
31. TOTAL DISBURSEMENTS $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------
32. NET CASH FLOW ($521) $11,421 $44,854 $55,756
---------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $24,819 $36,240 $81,096 $81,096
---------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-4
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
<TABLE>
<CAPTION>
MONTH MONTH MONTH
SCHEDULE ------------------------------------------------
ACCOUNTS RECEIVABLE AGING AMOUNT JULY, 2000 AUGUST, 2000 SEPTEMBER, 2000
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. 0-30 $21,518,319 $19,803,585 $25,436,925 $18,255,021
---------------------------------------------------------------------------------------------------------------
2. 31-60 $14,127,296 $1,125,716 $1,877,194 $7,658,872
---------------------------------------------------------------------------------------------------------------
3. 61-90 $2,070,404 $5,829,037 $558,006 $1,000,816
---------------------------------------------------------------------------------------------------------------
4. 91+ $3,598,876 $5,403,529 $9,701,320 $11,046,921
---------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $41,314,895 $32,161,867 $37,573,445 $37,961,630
---------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE $0
---------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $41,314,895 $32,161,867 $37,573,445 $37,961,630
---------------------------------------------------------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: SEPTEMBER, 2000
0-30 31-60 61-90 91+
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
---------------------------------------------------------------------------------------------------------------
1. FEDERAL $662,951 $662,951
---------------------------------------------------------------------------------------------------------------
2. STATE $0
---------------------------------------------------------------------------------------------------------------
3. LOCAL $0
---------------------------------------------------------------------------------------------------------------
4. OTHER (ATTACH LIST) $0
---------------------------------------------------------------------------------------------------------------
5. TOTAL TAXES PAYABLE $662,951 $0 $0 $0 $662,951
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
6. ACCOUNTS PAYABLE $0
---------------------------------------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES MONTH: SEPTEMBER, 2000
BEGINNING AMOUNT ENDING
TAX WITHHELD AND/ AMOUNT TAX
FEDERAL LIABILITY* OR ACCRUED PAID LIABILITY
---------------------------------------------------------------------------------------------------------------
1. WITHHOLDING** $0 $212,517 $212,517 $0
---------------------------------------------------------------------------------------------------------------
2. FICA-EMPLOYEE** $0 $0
---------------------------------------------------------------------------------------------------------------
3. FICA-EMPLOYER** $0 $0
---------------------------------------------------------------------------------------------------------------
4. UNEMPLOYMENT $0 $0
---------------------------------------------------------------------------------------------------------------
5. INCOME $0 $0
---------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) $949,645 $926,072 $1,212,766 $662,951
---------------------------------------------------------------------------------------------------------------
7. TOTAL FEDERAL TAXES $949,645 $1,138,589 $1,425,283 $662,951
---------------------------------------------------------------------------------------------------------------
STATE AND LOCAL
---------------------------------------------------------------------------------------------------------------
8. WITHHOLDING $0 $0
---------------------------------------------------------------------------------------------------------------
9. SALES $0 $0
---------------------------------------------------------------------------------------------------------------
10. EXCISE $0 $0
---------------------------------------------------------------------------------------------------------------
11. UNEMPLOYMENT $0 $0
---------------------------------------------------------------------------------------------------------------
12. REAL PROPERTY $0 $0
---------------------------------------------------------------------------------------------------------------
13. PERSONAL PROPERTY $0 $0
---------------------------------------------------------------------------------------------------------------
14. OTHER (ATTACH LIST) $0 $0
---------------------------------------------------------------------------------------------------------------
15. TOTAL STATE & LOCAL $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------------
16. TOTAL TAXES $949,645 $1,138,589 $1,425,283 $662,951
---------------------------------------------------------------------------------------------------------------
</TABLE>
* 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.
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-5
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
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.
<TABLE>
<CAPTION>
MONTH: SEPTEMBER, 2000
BANK RECONCILIATIONS
Account #1 Account #2 Account #3
--------------------------------------------------------------------------------------------------------------
A. BANK: Bank One
---------------------------------------------------------------------------------------------------
B. ACCOUNT NUMBER: 1559691298 TOTAL
---------------------------------------------------------------------------------------------------
C. PURPOSE (TYPE): Operations Account
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. BALANCE PER BANK STATEMENT $0 $0
--------------------------------------------------------------------------------------------------------------
2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0
--------------------------------------------------------------------------------------------------------------
3. SUBTRACT: OUTSTANDING CHECKS $0 $0
--------------------------------------------------------------------------------------------------------------
4. OTHER RECONCILING ITEMS $53,757 $53,757
--------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS $53,757 $0 $0 $53,757
--------------------------------------------------------------------------------------------------------------
6. NUMBER OF LAST CHECK WRITTEN
--------------------------------------------------------------------------------------------------------------
INVESTMENT ACCOUNTS
--------------------------------------------------------------------------------------------------------------
DATE OF TYPE OF PURCHASE CURRENT
BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
--------------------------------------------------------------------------------------------------------------
7. N/A
--------------------------------------------------------------------------------------------------------------
8.
--------------------------------------------------------------------------------------------------------------
9.
--------------------------------------------------------------------------------------------------------------
10.
--------------------------------------------------------------------------------------------------------------
11. TOTAL INVESTMENTS $0 $0
--------------------------------------------------------------------------------------------------------------
CASH
--------------------------------------------------------------------------------------------------------------
12. CURRENCY ON HAND $27,339
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $81,096
--------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-6
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
MONTH: SEPTEMBER, 2000
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. Toby Skaar Salary $10,909 $50,531
---------------------------------------------------------------
2.
---------------------------------------------------------------
3.
--------------------------------------------------------------------
4.
--------------------------------------------------------------------
5.
--------------------------------------------------------------------
6. TOTAL PAYMENTS
TO INSIDERS $10,909 $50,531
--------------------------------------------------------------------
PROFESSIONALS
--------------------------------------------------------------------------------
DATE OF COURT TOTAL
ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED
NAME PAYMENT APPROVED PAID TO DATE & UNPAID*
--------------------------------------------------------------------------------
1. SEE KITTY HAWK, INC. MOR - CASE# 00-42141-BJH-11
--------------------------------------------------------------------------------
2.
--------------------------------------------------------------------------------
3.
--------------------------------------------------------------------------------
4.
--------------------------------------------------------------------------------
5.
--------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO PROFESSIONALS $0 $0 $0 $0
--------------------------------------------------------------------------------
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
<TABLE>
<CAPTION>
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
-------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. National City Bank & Ft Wayne - Allen County $183,476 $183,868 $0
-------------------------------------------------------------------------------------
2. Ridgely - City of Philadelphia - PHL $25,508 $28,323 $0
-------------------------------------------------------------------------------------
3. NY/NJ Airport Authority - EWR $27,792 $30,374 $0
-------------------------------------------------------------------------------------
4. City of Los Angeles - LAX $39,562 $34,022 $0
-------------------------------------------------------------------------------------
5. Airport Group Int'l - ATL $11,550 $22,399 $0
-------------------------------------------------------------------------------------
6. TOTAL $287,889 $298,986 $0
-------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MONTHLY OPERATING REPORT
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-7
CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
MONTH: SEPTEMBER, 2000
QUESTIONNAIRE
--------------------------------------------------------------------------------
YES NO
--------------------------------------------------------------------------------
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE X
THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?
--------------------------------------------------------------------------------
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT X
OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?
--------------------------------------------------------------------------------
3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR X
LOANS) DUE FROM RELATED PARTIES?
--------------------------------------------------------------------------------
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES X
THIS REPORTING PERIOD?
--------------------------------------------------------------------------------
5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE X
DEBTOR FROM ANY PARTY?
--------------------------------------------------------------------------------
6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X
--------------------------------------------------------------------------------
7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES X
PAST DUE?
--------------------------------------------------------------------------------
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 X
DELINQUENT?
--------------------------------------------------------------------------------
11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE X
REPORTING PERIOD?
--------------------------------------------------------------------------------
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 X
NECESSARY INSURANCE COVERAGES IN EFFECT?
--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
INSTALLMENT PAYMENTS
--------------------------------------------------------------------------------
TYPE OF PAYMENT AMOUNT
POLICY CARRIER PERIOD COVERED & FREQUENCY
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SEE KITTY HAWK, INC. MOR - CASE # 00-42141-BJH-11
--------------------------------------------------------------------------------
<PAGE>
CASE NAME: KITTY HAWK CARGO, INC
CASE NUMBER: 400-42145-BJH-11
DETAILS OF OTHER ITEMS SEPTEMBER, 2000
ACCRUAL BASIS-1
8. OTHER (ATTACH LIST) $ 30,412,552 Reported
----------------
Net of all I/C Accts Receivable/Payable 30,206,538
Intangibles - Other 154,458
Deposits 51,556
----------------
30,412,552 Detail
----------------
- Difference
----------------
22. OTHER (ATTACH LIST) $ 2,077,570 Reported
----------------
Accrued Liabilities 1,052,610
Accrued Salaries & PR Taxes 435,406
Post-petition Fed Inc Tax 589,554
----------------
*** FET recorded in Taxes Payable - 9/00 2,077,570 Detail
----------------
- Difference
----------------
27. OTHER (ATTACH LIST) $ 5,606,155 Reported
----------------
Pre-petition Fed Inc Tax 4,022,982
Pre-petition Deposits 479,840
Pre-petition Taxes Other -
Pre-petition Accrued Liabilities 1,103,333
----------------
5,606,155 Detail
----------------
- Difference
----------------
ACCRUAL BASIS-2
13. OTHER (ATTACH LIST) $14,504,305 Reported
----------------
Aircraft Costs 2,888,390
I/C Aircraft Costs (KHA) 4,971,427
KHC Ground Handling (Operations Payroll) 748,934
Outstation Ground Handling 1,216,530
Trucking Costs 379,844
Fuel 3,724,466
Contract Labor 404,720
Other 169,994
----------------
14,504,305 Detail
----------------
- Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) (11,089,695)Reported
----------------
Transfer to Inc - all money sweeps (11,089,695)Detail
----------------
to KH Inc. Case #400-42141 - Difference
----------------
ACCRUAL BASIS-4
6. OTHER (ATTACH LIST) 1,875,717 Reported
----------------
FET (720) 08/01-31/00 Pd 09/05 949,645
FET (720) 09/01-11/00 Pd 09/28 263,121
FET (720) 09/12-30/00 Pd 10/11 662,951
----------------
1,875,717 Detail
----------------
- Difference
----------------
