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Silver Airways, a regional airline that began services in Antigua during the winter season last year, has filed for Chapter 11 bankruptcy protection.
The announcement was part of a strategic initiative to secure additional funding and reconfigure the airline’s financial framework.
In a message addressed to its customers, Silver Airways reassured travelers that its flight operations would continue seamlessly throughout the restructuring process. “All existing tickets will be honored, and we are actively encouraging new bookings through our website and other distribution channels,” the airline stated.
The promise of uninterrupted service extends to existing partnerships with United Airlines and JetBlue Airways, maintaining loyalty programs and shared flight services without disruption.
The restructuring is expected to conclude in the first quarter of 2025, with the airline anticipating a strengthened competitive position within the aviation market. “Our goal is to emerge from this process more resilient and better equipped to serve our customers,” Silver Airways emphasized in its communication.
The airline’s current network includes regional passenger flights across Florida, the Bahamas, and various Caribbean destinations, including routes operated through its Seaborne subsidiary.
In addition to passenger services, Silver Airways offers vital regional cargo transportation, utilizing its fleet of ATR-600 series turboprop aircraft.
This decision to pursue bankruptcy protection comes on the heels of several financial hardships faced by the airline. Earlier in 2023, Silver Airways confronted the threat of eviction from Fort Lauderdale-Hollywood International Airport due to nearly $1 million in unpaid fees.
What’s with the bankruptcy thing? That’s when you are broke or you don’t want to pay the people you owe. Meanwhile you keep on making money and nobody can do anything bout it. This bankruptcy declaration is very confusing to me. I believe it’s often misused.
Was this Airline ever in the run to make it? but oh well better luck