Unique as a Flamingo, Silver Airways Still Seeks its Niche

The quirky and eccentric Silver Airways faces real questions about its strategy after its latest round of route cuts.

The Hollywood, Fla.-based airline, known for its distinctive fuchsia livery, white flamingo logo, and unique routes, is an eccentric player in the U.S. airline industry. As an all-turboprop regional carrier, Silver Airways focuses on intra-Florida service and service between Florida, the Bahamas, and the Caribbean. 

However, beneath its flashy and tropical exterior, there are growing signs that the airline might be facing significant financial challenges. From operational inconsistencies to highly publicized legal spats, the question arises: is Silver Airways in trouble? 

One Airline’s Bankruptcy Leads to the Birth of Another

Founded in 2011, Silver Airways emerged from the remnants of Gulfstream International Airlines, which filed for bankruptcy in 2010. At the time of bankruptcy, the Dania Beach, Fla.-based carrier operated as a Continental Connection carrier with a fleet of 21 Beechcraft 1900D turboprops. 

Following the bankruptcy, Chicago-based investment company Victory Park Capital bought Gulfstream’s assets and relaunched the airline as Silver Airways. 

The newly rebranded carrier began operations as a Continental Connection codeshare partner on 15 December 2011 with a single 34-seat Saab 340 aircraft–one of six it had on order at the time. Throughout the rest of 2011 and 2012, Silver bolstered its footprint in Florida and the Bahamas and operated Essential Air Service (EAS) routes in Montana and the Mid-Atlantic.

Silver Airways’ EAS Operations and the Continental/United Merger 

Picking up where Gulfstream left off, Silver took over EAS operations at Billings-Logan International Airport (BIL) in Montana using Beechcraft 1900s. Back east, Silver also operated B1900 EAS flights out of Cleveland Hopkins International Airport (CLE). 

Following Continental’s merger with United Airlines on 01 April 2012, Silver became a United Express carrier. 

During the second half of 2012, Silver Airways commenced EAS operations out of Washington Dulles International Airport (IAD) using Saab 340s. This service connected smaller communities in Pennsylvania, West Virginia, and Virginia to the United Airlines network. Silver also launched flights from Hartsfield-Jackson Atlanta International Airport (ATL) to destinations in Mississippi and Alabama. 

Silver’s Montana operation wound down by late 2013 following the expiration of the EAS federal contract. Those B1900s would reposition to CLE, where they continued EAS operations with United Express to smaller communities in the Mid-Atlantic and Midwest. However, Silver’s CLE operation would also end in early 2014 following United’s announcement that it would dehub CLE. 

Meanwhile, Silver Airways was also expanding its footprint in Florida and the Bahamas. Its growing fleet of 12 Saab 340s provided service to destinations such as Gainesville Regional Airport (GNV), Orlando International Airport (MCO), Jacksonville International Airport (JAX), and Tampa International Airport (TPA). The carrier also moved its maintenance facilities from Fort Lauderdale-Hollywood International Airport (FLL) to Gainesville. 

Silver reached a major milestone in 2014 when it became an independent airline. 

An Independent Silver Airways

With Silver’s newfound independence, the carrier continued its growth strategy throughout the mid-2010s. The airline bolstered its route system throughout Florida and the Bahamas, creating a robust intra-Florida network.

Airline officials announced the establishment of a new maintenance headquarters at MCO in 2015.

In 2016, the federal government approved Silver to provide service between five Florida cities and nine Cuban cities.  However, service to Cuba ended in April 2017 after just eight months. 

In 2017, the carrier announced the purchase of 20 ATR -600 series turboprops, with options for up to 30 more. The order included 16 smaller 46-seat ATR 42-600s and four larger 70-seat ATR 72-600s. These additions would significantly increase Silver’s capacity as it continued adding routes. 

Silver Brings ATR Aircraft Back to U.S. Skies

Silver’s ATR order marked the first time in 25 years that a new ATR aircraft would operate in the United States. It also made Silver the first U.S. ATR 72-600 operator. 

Growth continued in 2018 when Silver Airways acquired Seaborne Airlines, based in San Juan, Puerto Rico. Seaborne provided intra-Caribbean service from its hub at San Juan’s Luis Muñoz Marín International Airport (SJU) with a fleet of 15-seat de Havilland Canada DHC-6 Twin Otter seaplanes and eight Saab 340s. 

In July 2018, Silver again became an EAS contractor, this time out of Boston Logan International Airport (BOS). The carrier provided seasonal service to the summertime tourist mecca of Hancock County-Bar Harbor Airport (BHB) in Maine. This route, operated for two summers with a Saab 340, ended upon the expiration of the EAS federal contract in 2020.  

As the 2010s faded into the sunset, it was a time of renewal and optimism at Silver, which–at the time–billed itself as “America’s leading independent regional airline.” 

Silver Airways’ first ATR 42-600 joined the fleet in early 2019. Its first revenue flight occurred on 22 April between FLL and Key West (EYW). The carrier took delivery of its first ATR 72-600 in late 2019, with its first revenue flight operating between TPA and Pensacola (PNS) on 23 November. 

A New Decade: Covid Thwarts Expansion Plans 

At the dawn of the new decade, Silver Airways was experiencing robust expansion. The arrival of additional aircraft enabled the expansion of Silver’s Caribbean operations out of SJU. However, all expansion plans were put on hold as COVID-19 decimated the airline industry. Additional expansion plans, including new service from Charleston International Airport (CHS) in South Carolina to MCO, TPA, and FLL, were delayed until late 2020. 

In 2021, Silver once again dipped its toes into something new. This time, it was a partnership with cargo carrier Amazon Prime Air. Using five Silver-operated ATR 72-500F freighters, Amazon based the aircraft out of Perot Field Fort Worth Alliance Airport (AFW) in Texas. From its AFW base, Silver Airways operated flights to cities such as Albuquerque, N.M. (ABQ), Des Moines, Iowa (DSM), Wichita, Kan. (ICT)., and Omaha, Neb. (OMA) on behalf of Amazon Prime Air. However, Silver and Amazon abruptly parted ways in July 2023, less than two years after the partnership began. 

In September 2022, Silver operated its final Saab 340 flight, thus making it an exclusively ATR -600 series operator.

Silver Airways Today 

As of September 2024, Silver Airways operates a fleet of 14 ATR -600 series aircraft, including eight 46-seat 42s and six 70-seat 72s. However, according to FlightAware data, two aircraft–one 42 and one 72–are currently parked at MCO. The 42, N705SV, last operated more than three months ago. The 72, N401SV, was ferried to MCO on 30 August. It is unclear if that aircraft has been parked or is simply undergoing maintenance. 

It’s worth noting, however, that the carrier is in the beginning stages of a relatively significant route shakeup. As first reported by AeroRoutes last week, Silver plans to eliminate eight routes between now and early 2025. Two of the route cuts have already taken place. These cuts will also lead to the closure of four stations, including:  

By the end of October, Silver will have just 20 destinations

Once these cuts take effect, Silver will be left with just 20 destinations across Florida, the Bahamas, and the Caribbean, including: 

Florida

• Pensacola (PNS)
• Tallahassee (TLH)
• Orlando (MCO)
• Tampa (TPA)
• Fort Lauderdale (FLL)
• Key West (EYW)

The Bahamas

• Freeport | Grand Bahama International Airport (FPO)
• Bimini | South Bimini Airport (BIM)
• Nassau | Lynden Pindling International Airport (NAS)
• Georgetown | Exuma International Airport (GGT)
• North Eleuthera | North Eleuthera Airport (ELH)
• Marsh Harbour | Leonard M. Thompson International Airport (MHH)

The Caribbean

•  San Juan, Puerto Rico (SJU) | Luis Muñoz Marin International Airport
• Tortola, British Virgin Islands (EIS) | Terrance B. Lettsome Airport
• St. Thomas, U.S. Virgin Islands (STT) | Cyril E. King Airport*
• St. Croix, U.S. Virgin Islands (STX) | Henry E. Rohlsen Airport*
• Anguilla (AXA) | Anguilla-Clayton J. Lloyd Airport
• St. Maarten (SXM) | Princess Juliana International Airport
• St. Kitts, St. Kitts and Nevis | Robert L. Bradshaw International Airport
• Dominica (DOM) | Douglas-Charles Airport

*In addition to Silver Airlines service to SJU, subsidiary Seaborne Airlines operates Twin Otter seaplane service between STT and STX

There have been significant route cuts over the last year, too

These cuts follow significant cuts over the last year, including Huntsville, Ala. (HSV), Jacksonville, Fla. (JAX), New Orleans (MSY), and Savannah (SAV). Additional cuts over the last year include Providenciales, Turks and Caicos (PLS), Antigua, Antigua and Barbuda (ANU), La Romana, Dominican Republic (LRM), and Puerto Plata, Dominican Republic (POP). 

Silver Airways also axed service to Greensboro, NC (GSO), Greenville-Spartansburg, SC (GSP), and Nashville (BNA) in 2023 after only four months. Announced service to Fort Myers (RSW) ended before it even began. 

However, not all the news is bad, as Silver announced on 04 September that it intends to increase the frequency of flights out of TPA. The changes include daily flights to NAS, twice-daily flights to TLH, and thrice-daily flights to EYW. The additional TPA flights begin on 07 October, one day after the GNV and PBI station closures. 

Silver Airways has a codeshare agreement with United Airlines and JetBlue. 

Is Silver Airways in Financial Trouble? 

Silver Airways’ quirks and flightiness have long been part of its eccentricity. They have carved out a niche capitalizing on their uniqueness. However, recent developments like the abrupt route cuts and station closures announced last month suggest that the airline may be in deeper trouble than it lets on. 

The airline is notorious for operational inconsistencies. Passengers complain of frequent delays and cancellations. Additionally, the carrier endured an embarrassing public saga in April 2023 when it was on the cusp of eviction from FLL due to non-payment of rent and other airport services totaling over $1.4 million. However, both sides struck an eleventh-hour deal, allowing the carrier to remain at FLL. 

The airline’s shrinking route network is one of the most telling signs of financial distress. Over the past few years, Silver Airways has retreated from many routes, focusing instead on core routes within Florida, the Bahamas, and the Caribbean. This reduction could be a strategic move to streamline operations, but it could also indicate that the airline is struggling to maintain its previous level of service. 

The Competition Heats Up

Other factors going against Silver Airways include its fleet of turboprop aircraft. Competitors like Breeze Airways operate brand-new Airbus A220 jets, including an intra-Florida route between PNS and TPA. At the same time, Silver is an exclusively turboprop carrier–something passengers no longer care for. Additionally, Brightline–Florida’s new state-of-the-art high-speed rail system–can whisk passengers between Orlando and Fort Lauderdale in less than three hours. 

The uncertainty surrounding Silver Airways’ financial stability raises concerns about its long-term viability. The carrier is presumably well-funded by Philadelphia-based Versa Capital Management, which has a majority stake in Silver Airways. Still, for passengers booking flights months in advance, the possibility that Silver Airways could face further service reductions is a genuine and valid concern. Regardless of how well-funded they are, no influx of money can save a carrier with no passengers.

While the airline has not made any public statements about its financial situation, the signs of distress–along with some high-profile financial snafus–are enough to give potential customers pause. 

Silver Airways Must Adapt to its Challenges

The future of Silver Airways remains uncertain. While the airline has survived in a highly competitive industry for over a decade, the growing signs of financial distress suggest it may be facing the most challenging moment of its short history. If the carrier is struggling financially, it must make significant changes to ensure its survival. 

One possibility is that Silver could seek a merger or partnership with a larger airline. A partnership would provide the financial backing needed to stabilize operations, potentially leading to the expansion of its route network. However, merging with a larger carrier could also mean losing some of the quirky charm that has defined Silver Airways since the beginning. And let’s not even think about navigating the gauntlet of pilot unions and contracts. 

Downsizing further is an option and would allow the carrier to focus on a smaller number of profitable routes and reduce overhead costs. This strategy could help Silver Airways stay afloat in the short term. However, it would also limit its growth potential and reduce its presence in the market. 

A recent comment by a user on an airliners.net forum laid bare some sobering information about the carrier, saying: 

“The 3M [Silver Airways IATA code] operation at SJU is so low at this point that crews are getting sent to do Florida flying to cover MCO and TPA because there’s no use for them down here. If 3M doesn’t get it together, they’re bound to lose this turf war (if it can be called that). And as for Florida, it’s sad when you have to draw down your own main base. Unfortunately, the current state of the company is something that I felt coming while I was with them; I jumped as soon as I had the opportunity, and now I see first-hand what I avoided and what my ex-colleagues are now going through.”

Oof. 

Ultimately, Silver Airways’s fate will depend on its ability to adapt to its challenges. Let’s hope it turns things around quickly before the trust of its customers erodes even further.