Silver Airways, a regional South Florida airline, stopped flying early Wednesday after it decided to oppose the buyer’s funding the carrier’s business during the sale of Chapter 11 bankruptcy proceedings.
Seaborne Airlines, an affiliated airline serving the US Virgin Islands, will continue to operate.
CEO Steven Rossum notified about 350 of the company’s remaining employees via email late Tuesday
“After navigating Chapter 11 bankruptcy in a few months, it’s a difficult news that our journey at Silver Airways is coming to an end for most of us,” he writes. “Wexford Capital – our Diplinder has informed us that they will no longer support operations or will maintain a small number of employees. As a result, Silver Airways will halt operations on Wednesday, June 11th and begin a wind-blown process. Small groups will be asked to stay temporarily to assist with asset management and records. These individuals will contact us directly.
Wexford did not immediately respond to email requests for comment.
The decision left passengers stuck in five Florida airports (including Fort Lauderdale Hollywood International) and 11 locations in the Bahamas and Caribbean.
“Silver Airways was stuck in Tampa,” a Broward County passenger wrote at 1:47am Wednesday. “I think they’ve gone out of business.”
In another announcement, Silver advised passengers not to go to the local airport as the airline has stopped operations.
“We would like to inform you that as of today, June 11, 2025, we have stopped operating,” the statement said. “To restructure the bankruptcy, Silver has begun trading to sell its assets to another airline holding company. Unfortunately, it has decided not to continue its flight work for Silver in Florida, the Bahamas and Caribbean.”
Silver said all credit card purchases can be refunded through a credit card company or travel agent.
My hearing has been delayed
Attorneys for both the company and Wexford appeared on Tuesday before US bankruptcy judge Peter Rassin to hear a proposal for sale, but now require it to continue until Wednesday, allowing the transition agreement to be finalized.
Hollywood-based Silver and Seaborne filed for Chapter 11 bankruptcy protection on December 30th last year after major lenders cut their funds on December 30th. At the time of filing, the airline had over $400 million in secured creditors and unsecured creditors.
The ongoing subsequent sales efforts for Chapter 11 on May 11 ended with the same result after Rasin allowed an auction that did not attract eligible bids to challenge the “Stalker King Horse Offer” created by Wexford Capital affiliates. In April, Wexford affiliate Kia II LLC provided debtor finance of $5.5 million so that it could continue its silver flight. Another affiliate, Argentum. The acquisition filed $5.775 million to buy the silver.
Since filing in Chapter 11, Silver’s service profile has been significantly reduced as the fleet of French-made ATR turboprops was cut in half to eight. Currently, it only serves five Florida cities along with destinations on 11 islands in the Bahamas and the Caribbean.
Silver’s destinations offered include Fort Lauderdale Hollywood International Airport, serving as a hub for flights to Tampa, Tallahassee, Pensacola and Key West. Seaborne flight between St. Thomas and St. Croix.
Silver’s workforce has been cut in half from 608 to 348 pilots, flight attendants and ground workers.
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Original issue: June 11, 2025 8:32am EDT
