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Originally formed in 1947, reactivated in 1981 by IAL. Chapter 11 on 11/2/86. Reorganized in 1987. Temporarily grounded in 1995. Ceased commercial ops in 1997. Acquired in 1999 by Fine Air which entered Chapter 11 in 2000. Merged into Fine Air in 2001 but identity kept as a marketing division of Arrow Air Holdings. Separate division Agro Air Associates at same address used for registry/financial operations. Entered Chapter 11 in 2004, purchase offer by HIG Capital withdrawn in 2004. Acquired by Anthony Romeo (owner of Charter America/Custom Air Transport) then immediately resold to a group headed by Guillermo ''Willy'' Cabeza (former CEO of Arrow Air), ceasing own aircraft operations, in 5/2004. Emerged from Chapter 11 in late 2004 under ownership of Arrow Air II Llc, and restarted full operations dba Arrow Cargo. 85% purchased by MatlinPatterson in 6/08. Reduced operations size significantly in 4/10. Announced on 30/6/10 the close-down of all services and entered Chapter 11 again that same day.
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