Arrow Air grounded

ARROW Air has ceased operations, effective immediately.

In a statement, the company said: “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 spokeswoman, Andi Salas, refused to speculate about what could happen to its assets.

During the first quarter, the company posted an operating loss of US$4.4 million on operating revenue of $61.5 million, a slight improvement from its $4.8 million loss on $45 million in revenue in the same quarter last year.

The only time the company posted a profit was in 2004 for $470,000.

Share this story

Related Topics

Latest news

Delta Cargo approves DoKaSch cooler for vaccine transportation

By Rachelle Harry

Delta Cargo has approved the use of the DoKaSch Opticooler RAP container as part of its cold chain pharma service….

Read More

Share this story

New air cargo platform CargoAi takes aim at digitalisation

By Damian Brett

The founders of recently launched air cargo platform CargoAI are hoping to capitalise on the industry’s ongoing digital drive. The…

Read More

Share this story

Air cargo demand continued to rally in September

By Damian Brett

Air cargo demand continued its gradual recovery in September with figures heading back towards year-ago levels, according to data from…

Read More

Share this story