24-04-2025
Another regional airline shutters flights and files bankruptcy and it may trigger a bigger crisis
Florida's Silver Airways has been recommended to cease operations amidst its ongoing bankruptcy proceedings.
The budget airline, headquartered at Fort Lauderdale–Hollywood International Airport, was
one of over a dozen carriers that declared bankruptcy
in 2024, including
another low-cost Florida-based airline.
Since 1988, Silver has primarily provided flights within the wider
Florida
region and the Caribbean.
According to a report submitted earlier this month, in late December 2024, it "
voluntarily filed for Chapter 11 protection
in the United States Bankruptcy Court for the Southern District of Florida " after losing its right to fly into several airports because of unpaid fees.
Read More
Related Articles
Four signs in your walk could mean you have dementia, experts warn
Read More
Related Articles
Dog behaviourist shares 'worst thing' to do when your pet barks or cries
The company has significantly reduced its flight operations as it battles with creditors, including aircraft leasing firms and various airports.
A government trustee appointed to supervise the insolvency case has suggested the company close down, doubting the likelihood of resolving its financial troubles.
In the report, the trustee confessed that the airline had been misleading the public about the positive trajectory of its financial recovery plan, highlighting its major cutback in flights.
Among the challenges confronting the airline is a multi-million dollar claim from aircraft lessor TrueNoord and the seizure of several leased aircraft carriers.
Spirit Airlines is among over a dozen airlines that filed for bankruptcy last year
According to data from ch-aviation, Silver Airways' current fleet comprises six operational aircraft, including two ATR42-600s and four ATR72-600s, and five non-operational aircraft, consisting of three ATR42-600s and two ATR72-600s.
In its formal bankruptcy announcement in December 2024, the airline stated, "We want to share an important step Silver Airways has taken to ensure a sustainable future for our company.
"This decision will allow us to secure additional capital and undertake a financial restructuring that will strengthen our position as a competitive airline, ultimately benefiting you--our valued customers."
