Silver Airways, a regional airline that serves Florida and the Caribbean, continues to fly after filing for Chapter 11 bankruptcy reorganization Monday.
Silver statement. It aims to emerge from bankruptcy in the first quarter of 2025 as a stronger, more competitive airline.
All existing bookings made by partners JetBlue Airways and United Airlines “remain valid” and all customers “will not experience any disruption to their bookings or services,” Silver said.
Many US airlines continue to struggle in the wake of the pandemic. While tourists have returned in record numbers, the cost of many things, from aircraft to labor, has risen dramatically during the recovery. Spirit Airlines, the largest US ultra-low-cost carrier, filed for bankruptcy protection in November amid rising bills and weak revenue.
Silver faces similar cost challenges. In bankruptcy court filings, the airlines disclosed numerous unpaid debts. Azora, which leases aircraft for its fleet of ATR turboprops, owes about $4.5 million and $2.1 million to the Internal Revenue Service in unpaid taxes or fees. Silver also lists unpaid bills at some of its busiest airports, including operators of Fort Lauderdale-Hollywood International Airport (FLL), Orlando International Airport (MCO), and San Juan’s Luis Munoz Marin International Airport (SJU).
The airline has also struggled to expand in recent years. Attempts to add flights beyond Florida and the Caribbean have failed. Silver left its last two US destinations outside of Florida – Georgia’s Savannah/Hilton Head International Airport (SAV) and South Carolina’s Greenville-Spartanburg International Airport (GSP) – in March, schedule data from aviation analytics firm Sirius Dio shows.
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And, in March, American Airlines ended its loyalty partnership with Silver.
Silver today serves 22 destinations in Florida and the Caribbean, primarily Fort Lauderdale and San Juan, Cirium schedules show. It operates a fleet of eight ATR 42 and six ATR 72 turboprops.
Silver subsidiary Seabourn Airlines also flies twin Otter seaplanes between St. Thomas and St. Croix in the Caribbean.
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