FINE AIR COMPLETES MERGER WITH ARROW AIR

FINE AIR COMPLETES MERGER WITH ARROW AIR    Fine Air Services Corp. said Thursday it has completed a planned merger of its cargo carriers Arrow Air and Fine Air. The merged airline, which will operate under the trade name Fine Air.
   The merger is part of the company's reorganization plan under Chapter 11 of U.S. bankruptcy laws. The company said it will have a plan of reorganization filed with U.S. Bankruptcy Court Judge A.J. Cristol within 45 days, and hopes to emerge from Chapter 11 protection by the end of May.
   Miami-based Fine Air purchased Arrow Air in March 1999. The combined air cargo carrier provides departures to 28 destinations in Central and South America and the Caribbean.