Related videos:
Silver Airways, based in Hollywood, Florida, announced the total and immediate cessation of its operations this Wednesday. The news was shared on its social media at midnight, surprising both passengers and employees.
“We regret to inform you that we will cease our operations as of today, June 11, 2025”, stated the airline in its official statement on Instagram.
He also asked passengers not to go to the airport and recommended that those who had purchased tickets with a credit card manage their refunds with their issuers or travel agencies.
This abrupt interruption of services affected dozens of flights and left thousands of passengers stranded at airports in Florida and the Caribbean, especially in the terminals of Fort Lauderdale, Tampa, and Orlando.
The Silver Airways counters at Fort Lauderdale International Airport were dismantled on Wednesday, and the airline disappeared from the arrival and departure boards.
From regional leader to final chapter
Silver Airways was founded in 2011 and has established itself as a key regional airline connecting destinations within Florida and various islands in the Caribbean.
With direct flights from Fort Lauderdale to destinations such as Puerto Rico, the Bahamas, St. Martin, St. Kitts and Nevis, the British and U.S. Virgin Islands, as well as domestic routes in Florida to Key West, Tallahassee, Tampa, Pensacola, and Orlando, Silver provided a vital network for thousands of travelers and communities.
In April alone, it transported more than 32,000 people to and from Fort Lauderdale airport, representing a 31% increase compared to the previous year.
However, this expansion was not enough to sustain a financial health that had already been deteriorating for years.
Bankruptcy: A Forewarned Downfall
The airline filed for Chapter 11 of the U.S. Bankruptcy Code in December 2024, acknowledging debts that initially exceeded 100 million dollars, but which judicial reports suggest may have reached as high as 400 million.
Silver Airways had more than a thousand creditors and operated with a notable financial fragility, supported by a loan of 5.7 million dollars granted by Wexford Capital, an investment firm based in Connecticut.
During the judicial process, the company aimed to restructure its finances and get back on track: “strengthen its position as a competitive airline” was the stated objective in December.
It was even expected that the airline would emerge stronger during the first quarter of 2025. However, the plan did not materialize.
The sales attempt that sealed his fate
Silver Airways scheduled an auction for June 6, 2025, hoping to find a buyer who would revitalize its operations.
However, no bidders showed up.
In the absence of offers, Wexford Capital took control of the company and decided not to continue flight operations.
"In an effort to restructure after bankruptcy, Silver made a transaction to sell its assets to another airline holding, which unfortunately has decided not to continue Silver's flight operations," the company explained in its statement.
The closure was formalized during a court hearing held on June 11 in Fort Lauderdale, where the presiding judge harshly criticized the company's management and expressed his regret for being unable to protect the employees from the consequences of the closure.
The sudden cancellation also left crews, ground staff, and administrative personnel unemployed, many of whom learned about the decision through social media.
Immediate impact and consequences
The domino effect was soon noticeable.
At least 50 flights were immediately canceled, including 14 routes to and from Fort Lauderdale and more than 20 from Tampa International Airport.
The official recommendation was that passengers should not go to the airport, as all flights were canceled.
Those affected who paid with credit cards were advised to seek refunds from their issuers, but those who paid in cash or by other methods will need to register as creditors in the judicial process, which could significantly delay the return of their money.
In addition to the impact on users, the closure of Silver Airways represents a significant loss for regional connectivity, especially for small island destinations that depended solely on its flights.
For years, the company was the only airline offering certain key routes, such as the direct connection between Fort Lauderdale and Key West or between Tampa and Pensacola.
End of a 14-year journey
Silver Airways began as a promise of efficient regional connectivity, with a strategic focus on short routes and tourist destinations.
For years, it was regarded by many as a "leading regional airline in the United States."
Her story, however, ultimately became a reflection of the structural challenges faced by many small airlines: limited margins, high dependence on external capital, and vulnerability to any economic setbacks, as local media report.
Filed under: