Arrow Air Inc, a Miami-based cargo carrier, has filed for bankruptcy protection and plans to liquidate after failing to find a buyer. The 60-year-old company, which operated as Arrow Cargo and once had more than 3,500 customers, halted operations in early July and filed a Chapter 11 petition on in the US bankruptcy court in Miami. In a court filing, Arrow said rising jet fuel prices outpaced its ability to boost prices and this resulted in “significant recurring operating losses” and a large operating deficit. Arrow had emerged from a prior bankruptcy in June 2004.