TAMPA, Fla. — Silver Airways will stop operating Wednesday and sell its assets to an investment firm.
The Florida-based regional airline filed for bankruptcy in late 2024 amid mounting debt.
At a recent auction, no buyers showed up to outbid the “stalking horse” offer from an affiliate of Wexford Capital, which public radio station WLRN says will now take control of the airline.
“In an attempt to restructure in bankruptcy, 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 airline wrote in a statement Tuesday night.
The low-cost carrier urged passengers not to go to the airport.
“All credit card purchases should be refunded through your credit card company or your travel agency,” Silver told customers with scheduled flights.
In March, passengers were left stranded because of canceled flights.
Already facing hundreds of millions of dollars in debt, the South Florida Sun-Sentinel said Silver recently lost another $1 million when a safety-related maintenance problem caused more flight cancellations right around Memorial Day weekend.
Headquartered in Broward County, Silver had operated a hub in Tampa. As of June, the carrier was only flying eight total turboprop aircraft — half as many as it did mere months earlier.
Beyond Tampa, Silver had served the following destinations: Key West, Tallahassee, Tampa, Pensacola, and Fort Lauderdale. It flew to Georgetown, North Eleuthera, Governor’s Harbour, Bimini, Marsh Harbour, Nassau and Freeport in the Bahamas. And, its Caribbean destinations included St. Kitts, Tortola, Dominica, St. Maarten, St. Croix, San Juan, and St. Thomas.
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