Silver Airways Files for Chapter 11 Bankruptcy Protection
Silver Airways, a US regional carrier, has filed for Chapter 11 bankruptcy protection as part of a strategy to secure a sustainable future for the airline. In an open letter to its customers dated December 30, 2024, the airline stated that the filing aims to ensure long-term financial stability and to allow for a comprehensive restructuring process.
The Florida-based airline, which operates routes primarily in Florida, the southeastern US, and The Bahamas, filed for Chapter 11 protection in the US Bankruptcy Court for the Southern District of Florida. The airline emphasized that this decision is intended to help it secure additional capital and reorganize its financial structure, ultimately strengthening its position in the competitive airline market.
Chapter 11 bankruptcy protection allows companies to reorganize and restructure their debts while continuing operations. Silver Airways reassured its passengers that all tickets remain valid and that day-to-day operations will continue without disruption. The airline expects to complete the restructuring process by the first quarter of 2025.
This move follows a similar action by Spirit Airlines, which entered a prearranged Chapter 11 process in November 2024. Spirit’s restructuring plan, backed by its bondholders, is also designed to strengthen the airline’s financial position.
Silver Airways, founded in 2011, currently operates a fleet of seven ATR42-600s and five ATR72-600s. The airline operates several routes within the US and to The Bahamas, focusing on regional travel.
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