Florida-based Silver Airways says it will keep flying after bankruptcy filing
Silver Airways, a regional airline that serves Florida and the Caribbean, continues flying after filing for Chapter 11 bankruptcy reorganization on Monday.
The Hollywood, Florida-based airline plans to secure new capital and restructure its debt through bankruptcy, Silver said in a statement. It aims to emerge from bankruptcy in the first quarter of 2025 as a stronger, more competitive airline.
All existing bookings, including those made via partners JetBlue Airways and United Airlines, "remain valid," and all customers "will experience no disruptions to their bookings or services," Silver said.
Several U.S. airlines continue to struggle following the pandemic. While travelers have returned in record numbers, the cost of many items from aircraft to labor increased dramatically during the recovery. The largest U.S. ultra low-cost carrier, Spirit Airlines, filed for bankruptcy protection in November amid mounting bills and weak revenue.
Silver faces similar cost challenges. In a bankruptcy court filing, the airline disclosed numerous unpaid debts. It owes nearly $4.5 million to aircraft lessor Azorra for its fleet of ATR turboprops and $2.1 million to the Internal Revenue Service in unpaid taxes or fees. Silver also lists unpaid bills at some of its busied airports, including the 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 outside of Florida and the Caribbean have all ended unsuccessfully. Silver exited its last two U.S. 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 Cirium Diio shows.
And, in March, American Airlines ended its loyalty partnership with Silver.
Silver serves 22 destinations in Florida and the Caribbean today, primarily from bases in Fort Lauderdale and San Juan, Cirium schedules show. It operates a fleet of eight ATR 42 and six ATR 72 turboprops.
Silver subsidiary Seaborne Airlines also flies Twin Otter seaplanes between St. Thomas and St. Croix in the Caribbean.
Related reading:
- When is the best time to book flights for the cheapest airfare?
- The best airline credit cards
- What exactly are airline miles, anyway?
- 6 real-life strategies you can use when your flight is canceled or delayed
- Maximize your airfare: The best credit cards for booking flights
- The best credit cards to reach elite status
- What are points and miles worth? TPG's monthly valuations
TPG featured card
at Bilt's secure site
Terms & restrictions apply. See rates & fees.
| 1X | Choose to earn up to 1X points on rent and mortgage payments with no transaction fee |
| 2X | Earn 2X points + the option to earn 4% back in Bilt Cash on everyday purchases |
Pros
- Choice to earn up to 1 Bilt Point per dollar spent on rent and mortgage payments
- Elevated everyday earnings with both Bilt Points and the option to earn Bilt Cash
- $400 Bilt Travel Portal hotel credit per year (up to $200 biannually)
- $200 Bilt Cash annually
- Priority Pass membership
- No foreign transaction fees
Cons
- Moderate annual fee
- Designed primarily for members seeking a premium, all-in-one card
- Earn points on housing with no transaction fee
- Choose to earn 4% back in Bilt Cash on everyday spend. Use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.