Editing Fine Air (section)

== History ==
J. Frank Fine founded the predecessor of Fine Air in 1976 as a leasing company which owned two [[Boeing 707]] aircraft. Fine owned farming operations in twelve countries in Latin America and the Caribbean, and sought a reliable support system for third-party operators to ship his products to the United States. His company was certified as a [[Douglas DC-8]] repair station in 1986 and received an [[air operator's certificate|air carrier operating certificate]] in November 1992; it began scheduled cargo service in 1994 as the largest international air cargo carrier at [[Miami International Airport]] (as measured by tons carried).<ref name="nasdaq">{{cite web|title=FINE AIR SERVICES INC (BIGF) IPO|url=http://www.nasdaq.com/markets/ipos/company/fine-air-services-inc-41269-8892|publisher=NASDAQ|access-date=18 December 2013}}</ref>

J. Frank Fine's son Barry Fine became president in 1997, by which point the airline had a fleet of fifteen [[Douglas DC-8]] aircraft. The airline was wholly owned by the two men for most of its existence.<ref name="ipo">{{cite news|last=Hemlock|first=Doreen|title=Miami Cargo Carrier Plans Stock Offering|url=http://articles.sun-sentinel.com/1997-06-07/business/9706060502_1_cargo-fine-air-services-carrier|access-date=18 December 2013|newspaper=Sun-Sentinel|date=7 June 1997|archive-date=19 December 2013|archive-url=https://web.archive.org/web/20131219051559/http://articles.sun-sentinel.com/1997-06-07/business/9706060502_1_cargo-fine-air-services-carrier|url-status=dead}}</ref>

Fine Air raised $123.5 million in an [[initial public offering]] on August 6, 1997,<ref name="sunsentinel">{{cite news|last=Hemlock|first=Doreen|title=Fine Air Files For Bankruptcy|url=http://articles.sun-sentinel.com/2000-09-28/business/0009271029_1_fine-air-arrow-air-cargo|access-date=18 December 2013|newspaper=Sun-Sentinel|date=28 September 2000|archive-date=19 December 2013|archive-url=https://web.archive.org/web/20131219045921/http://articles.sun-sentinel.com/2000-09-28/business/0009271029_1_fine-air-arrow-air-cargo|url-status=dead}}</ref> and planned to use the funds to purchase new aircraft and expand its cargo route network to Europe.<ref name="ipo" /> It was listed on [[NASDAQ]] with the ticker code "BIGF."<ref name="nasdaq" />

On August 7, 1997, the day after the IPO, [[Fine Air Flight 101]], crashed shortly after takeoff from [[Miami International Airport]].<ref name="AAR-98-02 Final Report">{{cite web |date=June 16, 1998 |title=Uncontrolled Impact with Terrain, Fine Airlines Flight 101, Douglas DC-8-61, N27UA, Miami, Florida, August 7, 1997 |url=https://www.ntsb.gov/investigations/AccidentReports/Reports/AAR9802.pdf |access-date=December 18, 2013 |publisher=[[National Transportation Safety Board]] |id=NTSB/AAR-98/02}}</ref> Fine Air cancelled its IPO the day after the crash, and returned the full amount of the capital raised to investors.<ref>{{cite news|last=Hemlock|first=Doreen|title=Fine Air Voids Stock Offer, Agrees To Repay Investors|url=http://articles.sun-sentinel.com/1997-08-09/news/9708080418_1_new-stock-korean-air-sale|access-date=18 December 2013|newspaper=Sun-Sentinel|date=9 August 1997|archive-date=19 December 2013|archive-url=https://web.archive.org/web/20131219051256/http://articles.sun-sentinel.com/1997-08-09/news/9708080418_1_new-stock-korean-air-sale|url-status=dead}}</ref> It voluntarily grounded its fleet on September 5 as an alternative to having its license revoked by the FAA,<ref>{{cite news|last=Hemlock|first=Doreen|title=Fine Air Voluntarily Grounds Its Fleet|url=http://articles.sun-sentinel.com/1997-09-05/news/9709040622_1_fine-air-cargo-faa|access-date=18 December 2013|newspaper=Sun-Sentinel|date=5 September 1997|archive-date=19 December 2013|archive-url=https://web.archive.org/web/20131219051803/http://articles.sun-sentinel.com/1997-09-05/news/9709040622_1_fine-air-cargo-faa|url-status=dead}}</ref> but received government approval to resume operations in October 1997.<ref>{{cite news|last=Kaye|first=Ken|title=Fine Air, With Federal Ok, Resumes Miami Flights|url=http://articles.sun-sentinel.com/1997-10-29/business/9710280344_1_fine-air-plane-valujet-accident|access-date=18 December 2013|newspaper=Sun-Sentinel|date=29 October 1997|archive-date=19 December 2013|archive-url=https://web.archive.org/web/20131219051252/http://articles.sun-sentinel.com/1997-10-29/business/9710280344_1_fine-air-plane-valujet-accident|url-status=dead}}</ref>

=== Arrow Air acquisition and bankruptcy ===
[[File:Lockheed L-1011-385-1-15 TriStar 200(F), Fine Air AN0236201.jpg|thumb|Fine Air L-1011 in 1999]]
Fine attempted to acquire [[Southern Air Transport]] in July 1998 but abandoned the deal in August.<ref name="sunsentinel" /> In February 1999, Fine Air announced that it would acquire [[Arrow Air]] for $115 million in cash.<ref>{{cite news |date=12 February 1999 |title=FINE AIR SERVICES AGREES TO BUY A RIVAL FOR $115 MILLION |url=https://www.nytimes.com/1999/02/12/business/company-news-fine-air-services-agrees-to-buy-a-rival-for-115-million.html |access-date=18 December 2013 |newspaper=[[The New York Times]] |issn=0362-4331}}</ref>

By 2000, Fine Air had around $200 million in annual revenue, more than 125 scheduled flights each week and a staff of more than 900 employees, handling 240,000 tons of cargo through its Miami hub in 1999.<ref name="sunsentinel" />

Fine Air filed for [[Chapter 11]] reorganization in September 2000 after a failed attempt to restructure $137 million in bond debt that had arisen due to the Arrow Air acquisition, citing fuel price increases and other financial issues beyond its control.<ref name="sunsentinel" /> A private investment group purchased Fine Air in 2002 and renamed it [[Arrow Air]], removing the Fine family from control of the company.<ref>{{cite news|title=Frank Fine, air cargo company founder, dies at 78|url=http://jacksonville.com/apnews/stories/042703/D7QM1B200.html|access-date=18 December 2013|newspaper=Associated Press|date=27 April 2003}}</ref> J. Frank Fine passed away in April 2003.<ref>{{Cite web|url=https://www.legacy.com/us/obituaries/palmbeachpost/name/j-fine-obituary?pid=1541753|title=J. Frank Fine Obituary (2003) The Palm Beach Post|website=Legacy.com|access-date=15 January 2022}}</ref>