Regional airline Silver Airways informed customers that all flights and operations were canceled in a brief statement posted to social media late Wednesday night.
“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,” according to the post.
“Please do not go to the airport,” the airline continued. “All credit card purchases should be refunded through your credit card company or your travel agency.”
Silver, which operated intra-island flights in the U.S. Virgin Islands via Seaborne Airlines, filed for Chapter 11 bankruptcy in late December in Florida’s Southern District following a series of financial challenges, including nearly one million dollars in unpaid fees to the Fort Lauderdale-Hollywood International Airport.
More recently, Silver designated Argentum Acquisition Co. LLC as a stalking horse bidder for a proposed $5.775 million — far less than the $400 million the airline owes to its creditors. The proposal did not necessarily include Seaborne Airlines, according to an asset purchase agreement filed by Silver’s attorneys in May.
St. Croix Source
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