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Silver Airways, a regional airline headquartered in Hollywood, Florida, failed to attract any bids at its recent bankruptcy auction. The company had filed for Chapter 11 bankruptcy protection in December 2024 with the intention of restructuring its debt while maintaining operations.
Despite efforts to market itself and reach out to potential buyers, no eligible bids were received. Consequently, the court will now consider whether to approve the sale of Silver Airways' assets to Argentum, an affiliate of Wexford Capital, which has offered $5.7 million. This offer includes a credit bid of $5.5 million based on a loan provided by Wexford Capital.
During its bankruptcy process, Silver Airways has managed to continue operations but has reduced its fleet size by half. Over Memorial Day weekend, the airline incurred an additional $1 million in debt due to mechanical issues affecting flights between Florida and the Caribbean.
