SOURCE LOOP NEWS- Silver Airways, a regional airline headquartered in Florida, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida. Announced on Monday, the decision is part of a strategic effort to secure additional funding and reorganize the company’s finances, with the airline adding in a statement that its goal is to “strengthen its competitive position within the aviation industry while ensuring continued service to customers.”
In its open letter to customers Monday, Silver Airways emphasized that operations will continue without interruption during the restructuring process. All existing tickets remain valid, and new bookings can be made through the airline’s website and other channels. Partnerships with United Airlines and JetBlue Airways, including loyalty programs, will proceed as usual, ensuring no disruptions for passengers, according to the statement.
The airline anticipates completing the restructuring by the first quarter of 2025, “emerging stronger to serve its customers with renewed dedication.” Silver Airways operates regional passenger networks in Florida, the Bahamas, and the Caribbean – including intra-island flights between St. Thomas and St. Croix through Seaborne, and to Puerto Rico – and provides regional cargo services with a fleet that includes ATR-600 series turboprop aircraft.
This development follows a series of financial challenges for Silver Airways. In early 2023, the airline faced potential eviction from Fort Lauderdale-Hollywood International Airport due to unpaid fees totaling nearly one million dollars. The Broward County Commission had issued notices of default, citing delinquent payments dating back to 2021.
Silver Airways, a regional airline based in Florida, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of Florida.
The move, announced on Monday, is part of a strategic effort to secure additional funding and reorganise the airline’s finances in order to strengthen its competitive position in the aviation industry.
In a statement, the airline emphasized that its primary goal is to “strengthen its competitive position within the aviation industry while ensuring continued service to customers.” The Chapter 11 filing will allow Silver Airways to reorganise its operations while working to secure the necessary financial support for a more “sustainable future.”
Despite the filing, Silver Airways reassured customers that its operations will continue without interruption throughout the restructuring process. All existing tickets will remain valid, and passengers can still make new bookings through the airline’s website and other channels the airline assured.
The airline also confirmed that its partnerships with United Airlines and JetBlue Airways, including loyalty programmes, will continue as normal, ensuring there will be no disruption to these services.
“We remain committed to providing reliable service to our customers as we work through this restructuring,” said the airline in an open letter to customers. Silver Airways expects to complete the restructuring process by the first quarter of 2025, emerging from the process “stronger and more dedicated” to serving its passengers.
Silver Airways operates a regional network that includes flights throughout Florida, the Bahamas, and the Caribbean, as well as cargo services. The airline also provides intra-island flights between St Thomas and St Croix through its Seaborne subsidiary and offers flights to Puerto Rico. The fleet consists of ATR-600 series turboprop aircraft.
This bankruptcy filing follows a series of financial struggles for Silver Airways. In early 2023, the airline faced the threat of eviction from Fort Lauderdale-Hollywood International Airport due to nearly one million dollars in unpaid fees. The Broward County Commission had issued notices of default, citing delinquent payments dating back to 2021.
As Silver Airways moves forward with its restructuring, it aims to emerge in a stronger financial position, allowing it to continue providing essential regional air travel and cargo services across the Caribbean and beyond.
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