US regional airline Silver Airways files for Chapter 11 bankruptcy

In an open letter to its customers the United States (US) regional airline Silver Airways has announced that it has filed for Chapter 11 bankruptcy protection. 

In the letter dated December 30, 2024, Silver Airways said it was initiating Chapter 11 proceedings “to ensure a sustainable future for our company”. 

The airline, which operates between gateways in Florida, the southeast and The Bahamas, voluntarily filed for Chapter 11 protection in the US Bankruptcy Court for the Southern District of Florida. 

“This decision will allow us to secure additional capital and undertake a financial restructuring that will strengthen our position as a competitive airline, ultimately benefiting you—our valued customers,” wrote Silver Airways in the open letter. 

According to the United States Courts, Chapter 11 of the Bankruptcy Code “generally provides for reorganization, usually involving a corporation or partnership” and a “debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time”. 

In its letter Silver Airways said it anticipated completing the process by the first quarter of 2025. The airline added that all its tickets remain valid, and operations will continue as usual.  

In a similar move on November 18, 2024, ultra-low-cost US carrier Spirit Airlines confirmed that the carrier has entered a prearranged Chapter 11 process. 

A restructuring support agreement was backed by Spirit’s bondholders with a comprehensive restructuring designed to secure the airline’s future.    

According to ch-aviation, Silver Airways operates an active fleet of seven ATR42-600s and five ATR72-600s. The company was founded in 2011. 

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