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 Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app