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Case 10-28831-AJC Doc 185 Filed 08/24/10 Page 1 of 1

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF FLORIDA

MIAMI DIVISION

www.flsb.uscourts.gov




In re:

ARROW AIR, INC. AND
ARROW AIR HOLDINGS CORP. 1


Debtors.




Case number 10-28831-AJC
Case number 10-28834-AJC

§ (Chapter 11)
§
§
§
§
§ (Jointly Administered under
§ Case number 10-28831-AJC)



NOTICE OF NO AUCTION FOR THE SALE OF THE DEBTORS' BUSINESS



PLEASE TAKE NOTICE THAT, on August 9, 2010, pursuant to a motion filed by

Arrow Air, Inc. and Arrow Air Holdings Corp. (collectively, the "Debtors"), the United States
Bankruptcy Court for the Southern District of Florida, Miami Division, entered an order (the
"Bid Procedures Order") establishing rules governing the solicitation and submission of
proposals for the acquisition of the Debtors' business operations and related assets. Under the
Bid Procedures Order, in the event that more than one satisfactory bid proposal was submitted,
as determined in the sole discretion of the Debtors, the Debtors were to conduct an auction on
August 25, 2010 at 10:00 a.m. prevailing eastern time (the "Auction") at the offices of Berger
Singerman, 200 South Biscayne Boulevard, Suite 1000, Miami, Florida, 33131.




The Debtors have reviewed and considered the bid proposals submitted in response to the
Bid Procedures. The Debtors have determined, based on their review and after consultation with
MP Arrow III, LLC and the official committee of unsecured creditors, that none of the bid
proposals conformed to the requirements outlined in the Bid Procedures Order. Therefore, the
Debtors will not conduct the contemplated Auction.

Dated: August 24, 2010

BERGER SINGERMAN

Paul Steven Singerman
Florida Bar No. 378860
Jordi Guso
Florida Bar No. 0863580
200 South Biscayne Boulevard, Suite 1000
Miami, Florida 33131
Telephone (305) 755-9500
Facsimile (305) 714-4340



Kenric D. Kattner
Texas Bar No. 11108400
Doug H. Edwards
Texas Bar No. 24039307
1221 McKinney, Suite 2100
Houston, Texas 77010
Telephone (713) 547-2000
Facsimile (713) 236-5608

HAYNES AND BOONE, LLP






1

The last four digits of the taxpayer identification number for Arrow Air, Inc. are 9045 and for Arrow Air Holdings Corp. are 0895.
The Debtors' address is 7205 Corporate Center Drive, Suite 300, Miami, Florida 33126.

H-853933.1