Friday, Jan. 30, 2004 (Miami Herald)........ Business briefs, AIR CARGO.........The Miami cargo carrier Arrow Air received approval Thursday from U.S. Bankruptcy Judge A. Jay Cristol to receive $750,000 of debtor-in-possession financing from its secured lenders, headed by Bank of America.The money, along with other operating funds, is to be used to pay $756,000 in payroll due today as the airline continues flying. A hearing is scheduled for today regarding $2.25 million in additional funding that would allow the carrier to operate for up to 30 days while finalizing a deal with Amerijet's owner, H.I.G. Capital, to buy certain assets. Jonathan Vair, an attorney for Stearns Weaver Miller representing Arrow Air, said late Thursday that ``the debtor [was] meeting with several investors and hoping to have a deal regarding the sale of its assets in place as early as [Friday].'' Arrow Air filed for Chapter 11 on Wednesday, less than two years after the airline, formerly called Fine Air, emerged from bankruptcy protection.
