Category Archives: Silver Airways

Silver Airways raises $50 million in new capital funding

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:

 

Prime Air arrives in Wichita, operated by Silver Airways

Wichita Dwight D. Eisenhower National Airport issued this statement:

Amazon Air on January 20, 2022 launched daily cargo service at the Wichita Eisenhower National Airport with an inaugural flight arriving shortly after 2 a.m. This is Amazon Air’s first regional gateway in Kansas to support fast, efficient package deliveries to Amazon customers throughout the region and country.

Amazon Air flights will be operated by Silver Airways using an ATR 72-500 aircraft and operate daily between Wichita and Fort Worth Alliance Airport (AFW).

The Wichita Airport Authority leased 10,691 square feet in the air cargo terminal to Trego-Dugan Aviation who is contracted to sort and load Amazon packages bound for their next destination. PrimeFlight Aviation will also lease 1,470 square feet to provide deicing services. Amazon Air’s newest regional gateway joins two investment sites already in the Wichita area, including a one million square foot fulfillment center in Park City and a 140,000 square foot delivery station in northeast Wichita.

Silver Airways has been operating services for Amazon since November 12, 2022 utilizing an ATR fleet.

Amazon Air’s fleet now consists of 95 aircraft operated by nine operators. The two-day delivery marketed firm has 26 Boeing 737-800BCFs spread across Atlas Air, Sun Country Airlines and ASL Airlines Ireland, 12 Boeing 767-200s spread evenly with Air Transport International and ABX Air, and 54 Boeing 767-300ER(BCF)s with 33 at Air Transport International, 19 with Atlas Air and 2 with Canadian carrier Cargojet. Silver Airways is the lone ATR operator.

Silver Airways passenger Route Map:

Silver Airways aircraft slide show:

Silver Airways aircraft photo gallery:

TrueNoord leases two new ATR 42-600s to Silver Airways

TrueNoord, the specialist regional aircraft lessor, has delivered two new ATR 42-600s to existing lessee Silver Airways. The aircraft join the ATR 72-600 delivered to Silver in May 2021, increasing TrueNoord’s portfolio with the American passenger and cargo regional carrier to three aircraft.

Delivered to Silver Airways on a long-term operating lease, these aircraft will be operated across Silver’s passenger network: the south-eastern USA, the Bahamas, and the Caribbean.

Silver Airways to add Greenville/Spartanburg with flights to Orlando, Jacksonville and Tampa

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 to launch service From Jacksonville to Tampa and Fort Lauderdale/Hollywood

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 to return to Bar Harbor, ME

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:

Origin/Destination

Departure

Arrival

Flight #

Stops

Frequency

Boston – Bar Harbor

11:00 am

12:10 pm

148

0

Monday, Tuesday

Boston – Bar Harbor

12:00 pm

1:10 pm

148

0

Saturday, Sunday

Boston – Bar Harbor

4:00 pm

5:10 pm

149

0

Thursday, Friday

Bar Harbor – Boston

8:45 am

10:00 am

147

0

Monday, Tuesday

Bar Harbor – Boston

10:00 am

11:15 am

147

0

Saturday, Sunday

Bar Harbor – Boston

2:00 pm

3:15 pm

148

0

Thursday, Friday

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

Origin/Destination

Departure

Arrival

Flight #

Stops

Frequency

Boston – Bar Harbor

11:00 am

12:10 pm

148

0

Monday to Friday

Boston – Bar Harbor

12:00 pm

1:10 pm

148

0

Saturday, Sunday

Boston – Bar Harbor

4:00 pm

5:10 pm

149

0

Daily

Bar Harbor – Boston

8:45 am

10:00 am

147

0

Monday to Friday

Bar Harbor – Boston

10:00 am

11:15 am

147

0

Saturday, Sunday

Bar Harbor – Boston

2:00 pm

3:15 pm

148

0

Daily

Route Map:

Silver Airways aircraft photo gallery:

Silver Airways to fly Charleston, SC

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 to resume seasonal service between Destin-Fort Walton Beach and Orlando

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:

Origin/Destination  Departure Arrival Flight # Stops Frequency
Orlando – Destin-Fort Walton Beach 10:30 am 11:20 am 141 0 Friday to Monday
Destin-Fort Walton Beach – Orlando 12:00 pm 2:50 pm 140 0 Friday to Monday

Silver Airways route map:

Silver Airways aircraft photo gallery:

 

Silver Airways puts its first ATR 72-600 into service

Silver Airways has received FAA and DOT certification to begin operations of its new 70-seat ATR 72-600 aircraft, making history as the first airline to operate the state-of-the-art airplane in the U.S. The ATR-600 series aircraft is specifically designed for short-haul markets, but with the same look, feel and customer amenities of larger jetliners. Over the past year, Silver Airways has undergone a complete operational, fleet and customer service transformation and in doing so is reinventing the regional flying sector.

Silver Airways’ first regularly scheduled commercial ATR 72-600 flight departed Tampa International Airport (TPA) and arrived at Pensacola International Airport (PNS) on Saturday, November 23, 2019. Silver’s ATR 72-600 will initially be used to and from destinations in Florida and The Bahamas, and Silver expects to introduce the new aircraft in its Caribbean markets in 2020.

ATR 72-600

Silver Airway’s first new 70-seat ATR 72-600 aircraft begins operations in the U.S.
The aircraft was christened “Rocket City” in honor of Silver’s newest ATR destination – Huntsville, Alabama.

Silver Airways first launched its new ATR fleet earlier this year with the 46-seat ATR 42-600, making history as the first U.S. carrier to operate the newly redesigned and technologically advanced, customer friendly ATR-600 series aircraft. It had been nearly 25 years since a new ATR had flown in the U.S. It marked the first time revenue passengers have flown an ATR-600 operated by a U.S. carrier and the first time a fully independent U.S. regional airline has taken delivery of a new aircraft in many decades. The new ATRs provide Silver’s guests with an unparalleled flying experience and reliability, and pilots with the industry’s most advanced cockpit.

To date, Silver Airways has taken delivery of its first seven of up to 50 ATR-600s, including six ATR 42-600s and one ATR 72-600. Future ATR-600 deliveries will be comprised of both ATR 42-600s and ATR 72-600s.

The new ATR-600 series aircraft are allowing Silver to expand its service in the Southeastern United States, The Bahamas and the Caribbean. By introducing the mission-specific ATR 42-600 aircraft with seating for 46 and ATR 72-600 with seating for 70, Silver has the unique ability to offer quicker direct flights to even more short and medium-haul leisure and business destinations in both domestic and nearby international markets.

The new ATR-600 series features the widest cabin in the regional aircraft market with a new ergonomic design and lightweight slim seats offering passengers maximum comfort with up to a 32-inch pitch offering more legroom than many mainline aircraft. In addition, Silver’s ATR fleet offers spacious full-size overhead bins for carry-on bags along with full-size lavatories, bright LED lite cabins and is quieter than regional jets. The new ATR-600 series also features the latest innovations in cockpit technology with simplified, integrated LCD advanced functions, enhancing safety and improved handling for pilots, as well as the latest in avionics technology. The state-of-the-art, all-glass cockpit further reduces flight crew workload and enhances situational awareness while providing better reliability, maintenance cost savings and weight reduction.

Silver Airways has codeshare and interline relationships with most of the leading airlines in the U.S. and many worldwide. The new ATRs provide superior air transportation with a level of comfort and quietness commensurate with the service of Silver’s worldwide airline partners.

Silver Airways and Delta Air Lines announce a new codeshare partnership

Silver Airways and Delta Air Lines have expanded their commercial relationship by introducing a codeshare partnership, providing customers of both airlines seamless connections between the carriers’ networks and enabling passengers to fly segments operated by both airlines under a single ticket. The codeshare offers customers of both airlines the ease and convenience of booking a single ticket with baggage transfer between the two airlines to a variety of Silver Airways destinations throughout the Caribbean, and travelers from Silver destinations can easily connect to Delta’s global network.

Under the agreement, Delta’s airline designator code (DL) is available on Silver Airways (3M) designator code for over 150 Caribbean flights per week, including to and from San Juan, Anguilla, Antigua, Dominica, Tortola, Nevis, St. Kitts, St. Thomas, St. Croix and St. Maarten. Silver’s wholly-owned subsidiary, Seaborne Airlines, previously had a codeshare relationship with Delta on its Caribbean network. Those flights are now operated for Silver Airways.

Silver Airways route map: