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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 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.:eek: Sincerely yours; 170 |
It's tough to compete when still operating old, converted, Diesel-10 trimotors. :{
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It wasn't long ago that they were operating -50 and -60 series DC-8s, if memory serves. High fuel prices...they are a b*#ch.
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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... |
Don't they have a few 757s flying freight around as well as the old DC-10s?
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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.
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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!! |
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! |
Has Centurion actually bought Arrow (or indeed the assets of the company) from Matlin Patterson yet??
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The old man was a shrewd old bastard. I understand his daughter had been running his assets into the ground.
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No. Centurion pulled out of the deal figuring they could get what they want cheaper if they wait until they file Chapter 11 or 7.
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Centurion have the right idea, if they wait they can get a bargain.
What's the story with Arrows fleet now? Do they still have a World MD11 flying for them? |
The contract World had ended in April give or take a couple weeks.
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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." |
Challenge is what I meant, thank you sir for the correction, and they did have a fine operation.
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Arrow
I understand as from 29th Arrow are not accepting any shipments...I assume this means they have closed their doors. Can any one confirm Arrow has gone bust ?
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www.arrowcargo.com
Press Release For Immediate Release ARROW AIR TO CEASE SCHEDULED SERVICE OPERATIONS 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.” 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. Contact: Andi Salas 212-355-4449 |
See company website, a press release was put out stating, it is winding down their Scheduled Service operations. Dated 30 June 2010
Lots of Arrow planes parked at MIA! |
Sad sad news, my heart goes out to all the staff who are now left in a very dark place.
Good Luck to all and it was great working with you.:ok: |
The press release says "Scheduled Service Operations", does this mean they will now be just a charter or ACMI company?
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