Silver Airways officially shut down operations today amid financial collapse

Florida-based airline, Silver Airways, has announced its decision to officially cease operations today, June 11, 2025. Taking to social media, the airline announced, “Dear Silver Airways customers, we deeply regret to inform you that we are ceasing operations as of today.” 

The airline further urged the passengers not to go to the airport and to ask for refunds through their original payment methods (travel agency or credit card).  

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Failed bankruptcy auction leads to asset sale and full liquidation 

According to the information, the airline filed for Chapter 11 bankruptcy recently in December 2024 and also attempted to sell its assets in a bankruptcy auction which took place in late May.  

It is said that as no buyer emerged, the airline’s assets including ATR 42/72 were sold to an affiliate of Wexford Capital which has now officially decided not to continue flight operations in Florida, Caribbean or the Bahamas.  

Trustee cites $100–$500 million in debt 

The airline was allegedly under debt of $100 million to $500 million which is why the trustee assigned to manage the insolvency proceedings of the airline advised that the company should be liquidated in April 2025. In a report submitted to the Backruptcy Court of UK for the Southern District Florida, the federal trustee emphasised that the financially distressed airline has minimal prospects for overcoming its serious fiscal challenges which casts serious doubts regarding its ability to come out of restructuring and return to positive cash flow.  

On the other hand, the airline’s managements publicly claimed that its plan towards financial recovery was on track, but the government trustee countered in the report that the revenue forecasts of the airline was unrealistic due to its reduced operational capacity. 

Notably, the Florida-based regional airline was found in 2011 following which it began its operations in December of the same year. It primarily provided its services across Florida, the Bahamas and the Caribbean operating from its hubs in Fort Lauderdale, Orlando, Tampa and San Jaun.  

The airline used only turboprop planes including ATR 72-600 and ATR 42-600 with an average fleet age of around 7.5 years. By 2025, Silver Airways had 8 turboprop planes and around 700 employees.