Argentum Acquisition Co. has filed a joint application with Silver Airways seeking approval from the Department of Transportation to transfer Silver’s certificates, exemptions, and operating authorities following the acquisition of the defunct airline’s assets through bankruptcy proceedings.
The application, submitted on Monday, also includes Argentum’s notice of intent to resume scheduled air transportation using these authorities.
The requested transfer follows Silver’s Chapter 11 filing on December 30, 2024, and the approval of Argentum’s asset purchase bid by the U.S. Bankruptcy Court for the Southern District of Florida on June 19. Argentum, formed by Wexford Capital LP as a special purpose acquisition company, acquired substantially all of Silver’s assets, including its DOT and FAA certificates. The transaction was completed on the same day as court approval.
Silver Airways, which held certificates for interstate and foreign scheduled air transportation, ceased operations on June 11, “eight days prior to the approval by the Bankruptcy Court of the sale of the assets to Argentum,” the firm said in its filing.
Argentum is seeking expedited DOT approval to transfer these authorities, facilitating a rapid resumption of service and preserving jobs, it said. According to the filing, Argentum plans to initially operate with one ATR aircraft and increase to two ATR aircraft later in the year, with potential service on former Silver routes between Florida and the Bahamas, and within Alaska.
The application outlines Argentum’s U.S. citizenship, ownership structure, and leadership, including its planned management team, many of whom previously worked for Silver.
In addition, Argentum requested a waiver of the standard 45-day notice period for resumption of operations and asked the DOT for expedited review and approval.
Argentum was created specifically to acquire and revive Silver’s business and assets following the carrier’s bankruptcy.
Argentum is not an airline on its own yet — it is a corporate vehicle designed to acquire Silver’s assets, secure regulatory approvals, and resume operations under the “Argentum Airways” trade name. The firm says it is managed by individuals with airline industry experience, many of whom were involved in Silver or other Wexford-backed ventures, such as Sterling Airways in Alaska.
