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KHA crash lands

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By scotty

Posted: Tuesday May 17 7:36:16PM 2005

TORONTO, May 16 /CNW/ - KnightHawk Inc. announced today that it has received a cancellation notice from its customer stating that both of its air routes will be cancelled, effective May 28, 2005. KnightHawk stated that it is extremely disappointed with this development, and that it will take immediate steps to reduce its costs and overhead structure... When I first read this last night, I thought, "Oh, they lost A customer." I gather that it was not only A customer, but possibly their only customer, or at least a significant one, given that the stock dropped over 50% today. Does anyone know of more details in this development (than what I cut/pasted), and what it could possibly mean for the company?

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