Westward Airways, Inc.

Order 04-6-5
OST-02-14071 - Certificate of Public Convenience and Necessity to Engage in Interstate Scheduled Air Transportation

Issued June 7, 2004 | Served June 10, 2004

Order Confirming Oral Action and Issuing Effective Certificate | Word

By this order, we reissue Westward Airways, Inc.’s section 41102 interstate scheduled passenger certificate to reflect its effective date.

Westward provided an update on the private placement it completed on September 15, 2003. Subsequent to the company’s completion of this private placement, only two shareholders own or control 10 percent or more of Westward’s voting stock: Kristi A. Feusner, Westward’s President and Chairman (31.4 percent) and John J. Warden, Westward’s Executive Vice President and Vice Chairman (31.4 percent). Additionally, as a result of the completion of the private placement, the board of directors elected to increase the number of members from three to four.

Westward has provided updated financial statements indicating that it has approximately $1,114,417.92 in total available resources, made up of cash reserves and grant funding under the Department’s Small Community Air Service Development Pilot Program

By: Randall Bennett