Overview

• Silver suspended all operations on June 11 after Wexford Capital’s affiliate withdrew support and no alternate buyer emerged during its Chapter 11 auction
• The carrier entered bankruptcy in December with over $400 million in debt and had already halved its ATR turboprop fleet while cutting service to five Florida cities and 11 Caribbean destinations
• CEO Steven Rossum notified about 350 remaining employees that most would be laid off immediately and a small team would stay on briefly to manage assets and records
• Passengers were told not to go to airports and advised to seek refunds through credit card companies or travel agencies following the abrupt cancellations
• Seaborne Airlines, an affiliated carrier serving the U.S. Virgin Islands, will continue operating as scheduled despite Silver’s shutdown