Brief: Harbor Diversified- On Dec 19, Air Wisconsin Airlines Llc Gave Notice To United Airlines Terminating Capacity Purchase Deal, Dated Feb 26 2017 - Filing

Harbor Diversified

23/12/2022 22:50

Dec 23 (Reuters) - Harbor Diversified Inc  HRBR.PK :
    * HARBOR DIVERSIFIED- ON DEC 19, AIR WISCONSIN AIRLINES LLC
GAVE
NOTICE TO UNITED AIRLINES TERMINATING  CAPACITY PURCHASE DEAL,
DATED FEB 26  2017
    * HARBOR DIVERSIFIED- SAYS TERMINATED UNITED CAPACITY
PURCHASE
AGREEMENT AS A RESULT OF MATERIAL BREACHES OF THE AGREEMENT BY
UNITED
    * HARBOR DIVERSIFIED-  AIR WISCONSIN DOES NOT EXPECT TO
INCUR
EARLY TERMINATION PENALTIES IN CONNECTION WITH TERMINATION OF
UNITED CAPACITY PURCHASE DEAL
    * HARBOR DIVERSIFIED -AIR WISCONSIN TERMINATED DEAL DUE TO
UNITED'S FAILURE TO GIVE CERTAIN NEGOTIABLE INSTRUMENTS SHOWING
CERTAIN ACCRUING OBLIGATIONS
    * HARBOR DIVERSIFIED INC - AS OF NOV 30, 2022, AGGREGATE
ACCRUED
PRINCIPAL AMOUNT OF SUCH OBLIGATIONS FROM UNITED TO AIR
WISCONSIN WAS ABOUT $17.5 MILLION
    * HARBOR DIVERSIFIED- AIR WISCONSIN TO CONTINUE FLYING FOR
UNITED
UNDER AGREEMENT UNTIL WIND-DOWN PERIOD GIVEN IN WIND-DOWN
SCHEDULE HAS ENDED
    * HARBOR DIVERSIFIED- AIR WISCONSIN TO CONTINUE FLYING FOR
UNITED
UNDER AGREEMENT UNTIL ALL OF COVERED AIRCRAFT HAVE BEEN
WITHDRAWN FROM THE AGREEMENT
    * HARBOR DIVERSIFIED- AIR WISCONSIN EXPECTS TO COMMENCE
FLYING
OPERATIONS FOR AMERICAN IN MARCH 2023

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