Silver Airways retired its its last SAAB 340B on September 4. The fleet has been replaced with newer ATR 42s and ATR 72s.

The airline made this announcement on September 4:

Thank you for flying with us today on this historic moment in Silver’s history as we bid farewell to our Saab 340B from our fleet. We would like to thank the dedicated Team Members of Silver and Seaborne that operated these airplanes and our passengers for the past 10 years.

Silver Airways aircraft photo gallery:

The Silver Airways pilots, represented by the Airline Professionals Association – Teamsters Local 1224 (APA 1224), have announced that they have ratified a Pay and Retention Letter of Agreement that provides for significant pay increases and retention bonuses.

Ninety-six percent of the pilots who cast ballots voted in favor of the agreement, which went into effect on June 1.

“With our recent expansion into cargo operations and increased hiring across all segments of our industry, we recognized that significant improvements were necessary in order for Silver Airways to remain competitive in attracting and retaining pilots,” said Don Welch, APA 1224 Executive Council Chairman and Silver Airways Captain. “We worked alongside our management team at Silver Airways to implement a multi-pronged approach. Not only to attract new talent, but also to retain existing pilots through increased pay rates, a quarterly retention bonus and upgraded incentives.”

Under the newly signed agreement, first officers received a 20 percent pay raise and captain pay was increased by 28 percent, which is now at the top of the regional airline industry. In addition to bonuses already provided for under the contract, if certain conditions are met over the next five years, eligible pilots could receive added retention and upgrade bonuses of up to $80,000 or more.

While some of the bonuses will expire at the end of 2023, the increased pay rates have been incorporated into the current collective bargaining agreement, which becomes amendable in late 2025.

The Airline Professionals Association, Teamsters Local 1224 represents the flight deck crewmembers of ABX Air, Cape Air, Horizon Air, Omni Air, and Silver Airways.

Silver Airways aircraft photo gallery:

Silver Airways LLC, the U.S. launch operator of the fuel efficient and environmentally friendly ATR 600 series turboprop aircraft, has successfully implemented critical strategic objectives including raising $50 million of new capital through the placement of senior secured convertible notes to provide further support to Silver’s business plan and capital structure and further accelerates its growth. Silver Airways, owned by affiliates of investment firm Versa Capital Management, LLC (“Versa Capital”), operates regional passenger networks in Florida, the Bahamas, and the Caribbean, and provides regional cargo services with five ATR 72-500 aircraft operating out of Ft. Worth, Texas.

Silver’s new financing was arranged by Jefferies LLC aviation banking team and was fully subscribed to by funds and accounts managed by Brigade Capital Management, LP (“Brigade”), a leading global credit asset management firm with $30 billion under management, after a competitive placement process.

Silver has also recently implemented the following corporate initiatives to position the airline for growth and continued expansion of its customer offerings:

• Entered into new or amended aircraft leases with all of Silver’s aircraft lessors, thereby providing significant financial and operational flexibility for the airline.
• Resumed new aircraft deliveries with two factory-new ATR 42-600 aircraft received by Silver in December 2021, bringing its ATR-600 passenger fleet to eleven aircraft, with further significant ATR-600 fleet growth planned for 2022.
• Obtained regulatory approval to begin flying ATR aircraft in cargo operations and placed five ATR 72-500 freighters into service late in 2021 under a commercial contract and began delivering cargo during the recent holiday season.
• Expanded Silver’s long-standing code sharing relationship with United Airlines to include all Silver markets in the Caribbean and additional routes in the Southeastern U.S.
• Finalized integration of San Juan-based Seaborne Airlines into Silver’s operations.
• Introduced expanded passenger service in Florida, Georgia, South Carolina, and Louisiana.

Silver President and CEO Steven A. Rossum said, “Without minimizing the tremendous support of so many business partners and stakeholders throughout this unprecedented period, none of this could have been accomplished without the dedication, hard work, sacrifice, and grit of Silver and Seaborne’s loyal Team Members who continued to provide safe, reliable, and customer-friendly service to our customers every day. Silver and its Team Members now deservedly have the opportunity for long-term stability and growth with an airline poised to undergo rapid and dramatic expansion.”

Rossum added, “After the most extraordinary period in commercial aviation history, we are humbled and energized by achieving these transformational initiatives. With new, long-term financing, a fleet portfolio comprised of young, fuel efficient, and environmentally friendly aircraft, the final integration of our San Juan-based subsidiary Seaborne Airlines, and our new cargo operations all in place, Silver is now positioned to execute on its tremendous opportunities in the regional passenger and cargo sectors.”

Gregory L. Segall, Chairman of Silver and of its owner Versa Capital commented, “Over the last few years, Steve Rossum and his leadership team steered Silver through extraordinary challenges and implemented bold initiatives that have validated Silver’s value proposition to the airline’s passenger, codeshare and cargo partners. By transforming our fleet into the modern and efficient ATR turboprops and with new long-term financing secured, Silver now has the resources to aggressively execute its growth strategy. Having achieved these successes, we are excited to be a part of Silver’s bright future.”

In the private placement, Silver was represented by Jefferies LLC as its financial advisor and placement agent, and by Smith Gambrell & Russell LLP as legal counsel, while Versa Capital and its affiliates were represented by Dechert LLP as legal counsel. Brigade was represented by McGuire Woods LLP.

Silver Airways aircraft slide show:

Silver Airways aircraft photo gallery:

Silver Airways is planning to add Greenville-Spartanburg International Airport (GSP) to its route map with flights to Orlando, Jacksonville and Tampa starting in March.

Flights to Orlando will start on March 18, to Jacksonville on March 19 and to Tampa on March 21 according to the Upstate Business Journal.

Flights will be operated with ATR aircraft.

Silver Airways has announced new safe, reliable and customer-focused service with nonstop twice-weekly flights from Jacksonville, Florida to each of Tampa and Fort Lauderdale/Hollywood.

Route Map:

Silver Airways is returning to Bar Harbor, Maine for an extended summer season with daily nonstop service between Hancock County-Bar Harbor Airport (BHB) and Boston’s Logan International Airport (BOS) from Memorial Day weekend through October 14, 2020.

Silver Airways’ Bar Harbor (BHB) – Boston (BOS) service effective:
May 21 – June 30, 2020:

Silver Airways’ Bar Harbor (BHB) – Boston (BOS) service effective:
July 1 – October 14, 2020:

Silver Airways, starting on May 21, 2020, is introducing new nonstop flights between Charleston, South Carolina and three Florida gateways:

• Orlando – Charleston
  • Daily, nonstop service.
  • The only nonstop travel option between Charleston and Central Florida.
  • Continuing service to Key West.

• Fort Lauderdale/Hollywood – Charleston
  • Four times weekly nonstop service will greatly enhance flight options to/from South Florida.

• Tampa – Charleston
  • Three times weekly nonstop service.
  • Silver will be the only airline operating this route.

Silver Airways aircraft photo gallery:

Silver Airways has made this announcement:

On March 13, 2020, in time for the Memorial Day weekend, Silver Airways is kicking off the summer travel season between two historic U.S. Air Force bases – Orlando International Airport, formerly McCoy Air Force Base, and Destin-Fort Walton Beach Airport, located within Eglin Air Force Base.

Silver Airways’ Orlando (MCO) – Destin-Fort Walton Beach (VPS) service
effective March 13, 2020 thru September 7, 2020:

Silver Airways route map:

Silver Airways aircraft photo gallery: