---
schema_version: "secwatch.filing_event.v1"
accession: "0000899394-24-000003"
form_type: "8-K"
ticker: null
cik: "0000899394"
company_name: "HARBOR DIVERSIFIED, INC."
filed_at: "2024-03-29T23:59:59+00:00"
generated_at: "2026-06-04T05:38:37.806301+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Harbor Diversified restates $52.3M revenue misstatements; material weakness expected

## Summary
- Audit committee determined prior 2022 annual and 2023 quarterly financials should not be relied upon due to accounting errors.
- Revenue and interest income overstated by ~$52.3M from disputed amounts under United Airlines capacity purchase agreement.
- February 2024 arbitration award denied both parties' claims; neither owes amounts claimed, triggering restatement.
- Company expects to report a material weakness in internal control over financial reporting for the 2023 10-K.
- Restatement adjustments expected to affect income tax provisions and balance sheet; cash and operations unchanged.

## SEC filing metadata
- accession: 0000899394-24-000003
- form_type: 8-K
- cik: 0000899394
- company_name: HARBOR DIVERSIFIED, INC.
- filed_at: 2024-03-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/899394/000089939424000003/0000899394-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/899394/000089939424000003/hrbr-20240329.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000899394-24-000003
- JSON: https://secwatch.observer/filing/0000899394-24-000003.json
- Plain text: https://secwatch.observer/filing/0000899394-24-000003.txt

## Key facts
- Auditor Changes
  HARBOR DIVERSIFIED, INC. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: the Company’s previously issued (i) consolidated financial statements and related disclosures as of and for the year ended December 31, 2022 contained in the Company’s Annual Report on Form 10-K, (ii) interim consolidated financial statements and related disclosures contained in the Quarterly Reports on Form 10-Q as of and for the first three quarters of the year ended December 31, 2022, and (iii) interim consolidated financial statements and related disclosures contained in the Quarterly Reports on Form 10-Q as of and for the first three quarters of the year ended December 31, 2023 (collectively, the “Non-Reliance Periods”) should no longer be relied upon due to misstatements contained in such financial statements, and that such financial statements should be restated.
  evidence_url: https://www.sec.gov/Archives/edgar/data/899394/000089939424000003/0000899394-24-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.