Arrow Cargo shuts up shop
Miami-based Arrow Air has become another victim of the recession, with its scheduled service operations ceasing on June 30th. According to the airline’s statement, the carrier 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 last resort after an unsuccessful search 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 employees as well as its customers, suppliers and other stakeholders. Quelle: eyefortransport |