New hardware arrived and I verified it on a m2 chip. Flang can compile and link fortran programs on its own. The fortran executable is running fine:
flang-new --version
Homebrew flang-new version 16.0.6
Target: arm64-apple-darwin22.5.0
Thread model: posix
InstalledDir: /opt/homebrew/Cellar/llvm/16.0.6/bin