The carrier filed for Ch. 11 bankruptcy in late 2024.
A Silver Airways ATR 72 aircraft (Photo: AirlineGeeks | William Derrickson)
Florida-based Silver Airways halted all service on Wednesday following a nearly five-month-long bankruptcy process.
“We regret to inform you that we are ceasing operations as of today, June 11, 2025,” the carrier said in a social media post. Silver planned to operate just over 1,500 scheduled flights this month, per Cirium Diio schedule data.
Investment firm Wexford Capital purchased the airline’s assets – including its fleet of ATR aircraft – but opted not to continue operating them.
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“Silver entered into a transaction to sell its assets to another airline holding company, who unfortunately has determined to not continue Silver’s flight operations in Florida, the Bahamas and the Caribbean,” the company added.
Silver filed for bankruptcy protection on Dec. 30, with plans to exit the process by the first quarter of 2025. However, bankruptcy proceedings continued to drag on.
According to court documents, the airline’s assets were valued at approximately $90 million, fully encumbered by $400 million in secured debt. Additionally, the airline owed $8 million in taxes and $27.7 million to unsecured creditors at the time of the bankruptcy filing.
Silver and its subsidiary Seaborne Virgin Islands reported months of negative cash flow with losses of $467,000 in February and $1.22 million in just the first two weeks of March.
Founded in 2011, the carrier was born from the assets of Gulfstream International Airlines. Throughout its history, Silver operated a broad network, including scheduled flights and government-subsidized Essential Air Service routes.
As of this month, it had bases in Tampa and Fort Lauderdale, Florida, along with San Juan, Puerto Rico.
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