KITTY HAWK Inc has raised $381.8m through a combined equity offering and high yield bond to finance its acquisition of the Kalitta companies. Kitty Hawk is a US domestic air cargo carrier based in Texas, with revenues last year of $140m. In September it reached agreement with Conrad Kalitta to purchase five companies he owned, including American International Airways, a larger competitor of Kitty Hawk, with 1996 turnover of $420m.
November 21, 1997