Miami-Based Arrow Air Out Of Business | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-03.24.25

SunnFun-DayOne-04.01.25

SunnFun-DayTwo-04.02.25

SunnFun-DayThree-04.03.25

SunnFun-DayFour-04.03.25

DO NOT, DO NOT, DO NOT Miss Monday's Historic (Really) SUN n FUN Innovation Preview: www.airborne-live.net, 1600ET!!!

Sat, Jul 10, 2010

Miami-Based Arrow Air Out Of Business

Operations Have Ceased, Carrier Has Filed For Bankruptcy Protection

Arrow Air Holdings Corp. (“Arrow”) has ceased scheduled service operations, effective immediately. Arrow issued the following statement:
“Like many companies in our industry, Arrow Air has experienced significant operating losses as a result of increasing operating costs and declining revenues. The decision to wind down the Company’s schedule service operations was a difficult one. This decision was not made lightly, and was a last resort after the Company exhaustively searched for other options including financing or a sale of the business. Arrow is now focused on helping to smooth the transition for the Company’s hard working, dedicated employees as well as its customers, suppliers and other stakeholders.”

In papers filed with the US Bankruptcy Court in Miami the company declared assets of $10 million to $50 million and listed debts of $100 million to $500 million.

Air Cargo World indicates that around 450 employees have been laid off but it is understood that Arrow has temporarily retained a workforce of 130. The company's chief restructuring officer, Doug Yakola, said: "The debtors intend to implement the orderly wind-down of their scheduled service operations and the liquidation of their assets, subject to the availability of charter flying and any potential sale transaction that may arise in Chapter 11."

Arrow operated more than 60 flights a week to and from Central and South America and the Caribbean. It operated seven DC-10s on behalf of customers such as the US Postal Service and the Department of Defense, and won certification from the FAA last year to fly B757-200s.

The carrier reorganized under Chapter 11 in June 2004 but ran back into difficulty. It is reported to have lost $28 million in 2008 and a further $26 million in 2009, despite reducing its operating costs by restructuring aircraft leases.

Arrow announced plans to lay off 473 workers in April as it tried to escape bankruptcy. A fellow Miami-based cargo carrier, Centurion Air, was reported at that time to be preparing a bid.

FMI: www.flsb.uscourts.gov

Advertisement

More News

SilverLight Aviation Provides Updates

Gyroplanes, New Airplane, AJ Sport Displayed At SUN ‘n FUN SilverLight Aviation, based in Tampa, Florida, announced it will have aircraft on display at the SUN ‘n FUN A>[...]

Airborne Affordable Flyers 03.27.25: MOSAIC To Miss OSH?, Flight Design, Dynon

Also: 2025 SnF Innovation Preview, Nat'l Aeronca Convention, Wright Flyer III, Ford Tri-Motor With a new political reality sweeping Washington, DC, and that doesn’t even incl>[...]

ANN's Daily Aero-Linx (04.01.25)

Aero Linx: Fairchild Club Home of Fairchild owners, pilots and enthusiasts. You need not own a Fairchild to be part of our Club and share our enthusiasm for the Airplanes. To Join >[...]

ANN's Daily Aero-Linx (03.31.25)

Aero Linx: Bellanca Champion Club The Bellanca-Champion Club welcomes all owners, pilots, and enthusiasts. Whether you're a Bellanca owner or not, we invite you to join us. The clu>[...]

Aero-News: Quote of the Day (03.31.25)

“The TURBINE powered Velocity V-Twin flew today for the first time!!! Great first flight with just a few minor squawks...” Source: The initial report from Velocity Airc>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC