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 … [Read more...] about Miami-based Arrow Air bankrupt, to liquidate
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ANA boss complains about government support for JAL
ANA President and CEO Shinichiro Ito questioned whether public aid for bankrupt Japan Airlines distorts Japan's competitive environment. Testifying before a government committee, Ito said JAL's turnaround program is progressing "haphazardly," according to a Nikkei report. JAL is receiving around Â¥900 billion (US$9.6 billion) in government support to ensure its survival as it navigates through a court-monitored bankruptcy restructuring. … [Read more...] about ANA boss complains about government support for JAL
