Arrow Cargo Again?
Thread Starter
Joined: Jun 2010
Posts: 18
Likes: 0
From: where you least expect it!!
Arrow Cargo Again?
Usually when you hear news like these is because the company is in real trouble, any insiders that want to contribute to this info? Arrow has been this close to shut down many times because of financial troubles, it is going to be able to survive this time? your comments are welcome.
June 10, 2010
Ref.
Arrow Cargo
Dear Customers, Partners, and Vendors;
We are aware
We are aware
of the many rumors in the marketplace with regards to Arrow's financial
difficulties.
Many of these rumors are suggesting that Arrow will be ceasing operatˇons in the
coming
days' These allegations are untrue. There are continued discussions with investors to
ensure
we continue to serve our customers for many years to come, and those discussions are
expected
to be completed in the coming weeks. We appreciate your loyalty and support, and
look
forward to our continued working relationship.
Sincerely yours;
170
Registered User **
Joined: Mar 2009
Posts: 480
Likes: 0
From: USA
It's tough to compete when still operating old, converted, Diesel-10 trimotors
Not really when the competition in their geographical market are operating the same or similar, not to mention that these company's go out allmost allways at max gross weight are spend alot of time at fuel saving altitude.
Hey, I thought Arrow wes being baught by Centurion...
Registered User **
Joined: Mar 2009
Posts: 480
Likes: 0
From: USA
Ahh, the old century air cargo did this, like clockwork. CAC being a company that had 707"s and 757's, then DC10-40's as well operating out of miami is now UPS. minus everything but the 752's.
Joined: Oct 2008
Posts: 2
Likes: 0
From: Miami, Florida
Now, now Muduckace,
It's Centurion and they operate MD11's. The DC10-40's were returned some time ago. The DC10-30's have been dispersed into other holding airlines. CAC is mopping up the MIA-South American market, a thing that Arrow could have done, given the backing of the hedge fund that bought them, but as appears to be the norm throughout Arrow's history - Ego's won the day!!
It's Centurion and they operate MD11's. The DC10-40's were returned some time ago. The DC10-30's have been dispersed into other holding airlines. CAC is mopping up the MIA-South American market, a thing that Arrow could have done, given the backing of the hedge fund that bought them, but as appears to be the norm throughout Arrow's history - Ego's won the day!!
Joined: Oct 2001
Posts: 3,832
Likes: 115
From: UK
So what the hell is new? I worked for Arrow when it was part of the George Batchelor empire some 25 years ago.
Arrow has died and been resurrected at least 5 times since then. No doubt somebody makes money every time it happens!
Arrow has died and been resurrected at least 5 times since then. No doubt somebody makes money every time it happens!
Joined: Jun 2001
Posts: 2,627
Likes: 2
From: UTC +8
muduckace
"Ahh, the old century air cargo did this, like clockwork. CAC being a company that had 707"s and 757's, then DC10-40's as well operating out of miami is now UPS. minus everything but the 752's."
Joined: Oct 2009
Posts: 3
Likes: 0
From: va
www.arrowcargo.com
Press Release
For Immediate Release
ARROW AIR TO CEASE SCHEDULED SERVICE OPERATIONS
MIAMI – June 30, 2010
MIAMI – June 30, 2010
– Arrow Air Holdings Corp. (“Arrow”) today announced the Company
will cease 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.”
will cease 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.”
About Arrow Air Holdings Corp.
Arrow Air Holdings Corp., operating under the trade name Arrow Cargo, is a U.S. certificated
all cargo air carrier operating out of Miami International Airport.
all cargo air carrier operating out of Miami International Airport.
Contact:
Andi Salas
212-355-4449