US regional carrier Silver Airways is aiming to emerge from financial restructuring through Chapter 11 bankruptcy within the next several weeks.
The Hollywood, Florida-based operator recently told FlightGlobal that it plans to complete the process in the first quarter but declined to get more specific, citing “pending proceedings” with US Bankruptcy Court for the Southern District of Florida.
“We will have further information in the coming weeks as the case progresses,” says a company spokesperson.
Silver Airways filed for bankruptcy on 30 December in a bid to “ensure a sustainable future” for the company, adding in a note to customers that it was seeking additional capital and planned to emerge “stronger and ready to continue serving” air travellers in Florida and the Bahamas.
The carrier has continued operating as normal and honouring codeshare agreements with major US carriers JetBlue Airways and United Airlines during the restructuring. The carrier also has a codeshare agreement with Brazil’s Azul.
“Tickets purchased through any other airline or agency will be honoured,” it said at the time.
Silver Airways cited debt exceeding $100 million as a factor in its bankruptcy filing. Though a full picture of the privately owned company’s financial situation is not publicly available, the airline has shown signs of strain in recent months.
In April 2023, the regional carrier – which flies passengers with ATR 72 and 42-600s – narrowly avoided eviction from its main operational base at Fort Lauderdale-Hollywood International airport as it owed more than $1.4 million in back rent and late fees.
Then, at the end of March 2024, longtime partner American Airlines ceased allowing its loyalty programme members from earning or redeeming miles on flights operated by Silver Airways, according to American’s website.
Silver Airways is the latest US carrier file for bankruptcy protection in recent months, following Spirit Airlines, which warned late in 2024 that it has “substantial doubt” about its ability to continue operating due to steep financial losses amid difficult market conditions.
Spirit also expects to complete the Chapter 11 process early this year.
