Silver Airways, a regional airline operating in Florida and the Caribbean, has filed for Chapter 11 bankruptcy reorganization as it seeks to restructure its debt and secure new capital. The airline, based in Hollywood, Florida, aims to emerge from bankruptcy by the first quarter of 2025, positioning itself as a more competitive player in the regional airline market. Despite the bankruptcy filing, Silver assures customers that all existing bookings, including those made through partners like JetBlue and United Airlines, will remain valid, with no disruptions to services expected. The airline faces significant financial challenges, including nearly $4.5 million owed to aircraft lessor Azorra and $2.1 million in unpaid taxes to the IRS. Silver has struggled to expand its operations beyond Florida and the Caribbean, recently exiting its last two U.S. destinations outside of Florida. The airline currently serves 22 destinations and operates a fleet of turboprops.
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