Silver Airways is financially grounded.
Just weeks after Florida-based Spirit Airlines filed for bankruptcy, a second carrier based in the state has filed for Chapter 11 bankruptcy reorganization and protection. Silver Airways CEO Steven A. Rossum filed the petition in Fort Lauderdale’s U.S. Bankruptcy Court on December 30th.
As part of the petition, Silver Airways listed up to $500 million in debts and assets, and revealed the airline “incurred substantial debt due to the Covid-19 pandemic, and mounting costs for fuel, aircraft parts and labor for pilots and technicians” according to the Orlando Business Journal.
The carrier, which was the 22nd largest by passenger number at Orlando International Airport in 2023, operates a regional passenger network throughout Florida, the Bahamas, and the Caribbean, as well as regional cargo services out of Fort Lauderdale. However, the airline has faced issues in recent years. Back in 2023, the Broward County Commission considered evicting the airline from Fort Lauderdale-Hollywood International Airport after Silver Airways defaulted on lease payments. However, the board chose not to terminate the airline’s lease since it is “a local business and provides over 800 local jobs.”
In an open letter to customers, Silver Airways announced the filing, as well as specifying the following:
“We anticipate completing this process by the first quarter of 2025, emerging stronger and ready to continue serving you with the same dedication we’ve upheld for over 13 years.
Here’s what matters most to you:
- All tickets remain valid, and we will continue operating as usual
- You can book flights with Silver through our website or any other channel
- United and JetBlue customers, including loyalty program members, will experience no disruptions to their bookings or services
- Tickets purchased through any other airline or agency will be honored
Our team remains committed to delivering the safe, comfortable, and reliable travel experience you deserve—whether you’re flying for business, reuniting with loved ones, or taking a well-earned beach getaway.”
Florida-based Silver Airways has become the latest airline to file Chapter 11 in light of recent financial difficulties. Stay tuned to AllEars for more industry news.
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Have you ever flown Silver Airways? Let us know in the comments below.
When a business files for bankruptcy to “ emerge stronger”, does it stay on their credit for 7 years like regular people? Just saying maybe I could file and emerge more strongly positioned to take a Disney trip…