Regional airline closes up shop and plans ‘to sell everything' as flyers are left grounded
Silver Airways, an airline operating out of Florida, is selling all of its assets to an investment firm and shutting down its operation.
The airline filed for bankruptcy in late 2024 due to its growing debts.
Local broadcaster WLRN reports that Wexford Capital — the only party interested in buying the airline at a recent auction — will take control of the company.
"In an attempt to restructure in bankruptcy, Silver entered into a transaction to sell its assets to another airline holding company, who unfortunately has determined to not continue Silver's flight operations in Florida, the Bahamas and the Caribbean," the airline wrote on Tuesday night.
The company requested that customers looking for ticket refunds do so through the website and not at the airport.
"All credit card purchases should be refunded through your credit card company or your travel agency," the company said.
Silver was already dealing with hundreds of millions of dollars of debt when the company lost another $1 million around Memorial Day due to flight cancellations related to mechanical issues, according to the South Florida Sun-Sentinel.
The airline maintained its headquarters in Fort Lauderdale and operated a second hub in Tampa, though by the end of its run the company only was flying eight turboprop planes. A few months earlier, it had double the number of planes, but in early March some of its fleet was repossessed. That too caused flight cancellations.
The company almost lost its headquarters in April 2023 when the Broward County Commission considered terminating their lease at the airport over unpaid bills, according to One Mile At a Time.
Silver primarily served Florida, the Bahamas, and the Caribbean. Its locations included Tampa, Key West, Tallahassee, Pensacola and Fort Lauderdale in Florida, Georgetown, North Eluthera, Governor's Harbour, Bimini, Marsh Harbour, Nassau, and Freeport in the Bahamas, and St. Kitts, Tortola, Dominica, St. Maarten, St. Croix, San Juan and St. Thomas in the Caribbean.
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