Silver Airways Permanently Shuts Down, Disrupting U.S.-Caribbean Travel Network

Silver Airways has announced that it will stop operating from today and will sell its assets to an investment firm after it failed to secure any buyer during the auction held just days ago. The shutdown of the airlines has sent shockwaves among travellers and its regional customers as the airline served as a key connector between the US and several Caribbean islands.  

Silver Airways notably filed for bankruptcy in late 2024, and through a statement released on Tuesday night they confirmed that the airlines will cease their operations permanently on Wednesday. The decision comes after its assets were sold to an affiliate of Wexford Capital, which opted not to continue flight services in Florida, Bahamas and the wider Caribbean.  

"In an attempt to restructure in bankruptcy, Silver entered a transaction to sell its assets to another airline holding company, who unfortunately has determined to not continue Silver's flight operations in Florida, the Bahamas and the Caribbean,” the airline wrote in the statement.  

Silver Airways' shutdown impact on Caribbean 

The airlines exit from the aviation industry is expected to bring both an immediate disruption and long-term economic impacts to several Caribbean nations, who consistently relied on tourists from US.  

Silver Airways notably served as a critical link, and a renowned and preferred airline for travellers as it was known to deliver low-cost option for travellers heading to underserved or hard to reach destinations. Several Caribbean routes which the airline operates to included St Kitts, Tortola, Dominica, St Maarten, Bahamas, San Juan, St Thomas, Anguilla and more.  

Passengers to get refund after Silver Airways shuts down  

Silver Airways through its statement has urged travellers to not go to the airport, confirming that all remaining flights have been cancelled. The airlines also confirmed that the passengers will get a refund through their credit card companies or travel agencies.  

Intercaribbean airways acknowledges closure of Silver Airways

Hours after Silver Airways announced its closure, InterCaribbean Airways, a regional and renowned airline servicing in the caribbean and us region released a pres release acknowledging the closure of the airline and announcing that they will be offering rebooking assistance for affected passengers to and from San Juan, Tortola or Dominica. 

These bookings could be made at any of the airport or through contacting the airlines at their official mail id. The airlines claim that they will also help passengers arrange alternative travel options as well. InterCaribbean Airways said that the customers flying between San Juan and Sint Maarten may travel on the airline to Tortola and will be guided to onward options from there inluding connections with Winair. 

"Our teams in Tortola, San Juan, and Dominica are fully briefed and ready to assist Silver Airways customers in navigating next steps during this unexpected transition. interCaribbean Airways is here to help ensure affected travelers can complete their journeys with as little inconvenience as possible," the airlines noted. 

Bahamasair steps in to aid disrupted passengers 

Bahamasair has also announced to aid passengers who faced a sudden flight suspension after Silver Airways announced its closure. The airlines made the announcement through a media release and highlighted that the airline will be offering flights to and from key destinations including Orlando, Miami, Fort Lauderdale, West Palm Beach, and islands across The Bahamas. 

The tickets for these flights could be booked from local agents, airports or through official website of Bahamasair. 

The closure of the airlines notably follows a series of operational issues including the cancellation of flights in March due to maintenance failures and added to the mounting debts.  

As the airlines has shut down its operations, a significant gap in Caribbean connectivity to the US will be felt by the travellers. However, it also serves as an opportunity for regional and developing airlines like LIAT, to step in and fill out the gap.