Arrow Air Makes 2nd Trip Into Ch. 11

Law360, New York (July 1, 2010, 2:58 PM EDT) -- Cargo carrier Arrow Air Inc. has once again slipped into bankruptcy protection after emerging from Chapter 11 six years ago, citing significant operating losses as a result of declining revenues and skyrocketing fuel prices.

The carrier's petition, filed Wednesday in the U.S. Bankruptcy Court for the Southern District of Florida, came after excess cargo capacity in the market rendered the company unable to raise prices sufficiently to offset the spike in jet fuel costs.

The petition came one day after Arrow Air announced that it would...
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