Silver Airways Ceases Operations Due to Bankruptcy
Fort Lauderdale-based Silver Airways has officially ceased all flight operations, marking the end of its turbulent journey as a regional carrier. In an important travel alert on the [Silver Airways website](https://www.silverairways.com/travel-information/travel-alerts), the airline advises travelers: “Please do not go to the airport. All credit card purchases should be refundable through your credit card company or your travel agency.”
Chapter 11 Bankruptcy and Financial Struggles
On December 30, 2022, Silver Airways entered Chapter 11 bankruptcy protection to restructure its finances. The airline aimed to resume normal operations by the end of March. However, by April, a trustee handling the bankruptcy proceedings requested a dismissal of the case, citing ongoing financial losses and the airline’s inability to secure necessary funding for its recovery.
At that time, Silver had approximately $90 million in assets but faced liabilities totaling around $400 million. It also owed $8 million in taxes and $27.7 million to unsecured creditors, raising severe concerns about its financial viability.
Reduced Fleet and Limited Operations
Initially, Silver operated with a fleet of 16 aircraft, servicing 24 cities, including destinations in Florida, the Bahamas, and the Caribbean. It was also the parent company of the Seaborn brand, which provided seaplane connections between St. Croix and St. Thomas. However, by April, evidence from court records indicated that the airline had downsized its fleet to just seven aircraft, and by this month, Silver was scheduled to fly to only 16 destinations, as reported by [Cirium data](https://www.cirium.com/).
Asset Sale and Auction Outcome
In a statement regarding the cessation of operations, Silver Airways disclosed that it had entered into a deal to sell its assets to another airline holding company. Unfortunately, this company chose not to continue Silver’s flight services in Florida, the Bahamas, and the Caribbean.
Additionally, according to South Florida NPR affiliate [WLRN](https://www.wlrn.org/light/business/2025-06-06/silver-airways-no-bids-at-auction), Silver recently went up for auction but attracted no bidders. Subsequently, the airline was awarded by default to Connecticut-based Wexford Capital, which had previously lent Silver $5.7 million during its Chapter 11 proceedings. This loan amount served as the baseline price for the auction.
As a result, the closure of Silver Airways serves as a significant event in the regional airline landscape, impacting numerous passengers and challenging travel plans across its service areas.
