Silver Airways increases capital, aircraft and operations
Silver Airways announced that it achieved its goal of increasing its equity by US$50 million in order to accelerate its growth.
The airline operates regional passenger networks in Florida, the Bahamas, and the Caribbean. In addition, it offers cargo services with five ATR-500 aircraft operating out of Ft. Worth, Texas. Silver’s president and CEO, Steven A. Rossum, said in this regard, «We now have the opportunity to achieve long-term stability and growth, and we are poised for rapid expansion.»
In addition to the capital raise, Silver Airways has launched several initiatives as it seeks to position the airline for continued expansion of its offering:
- Signed leasing agreements to add aircraft to its operation, providing significant financial and operational flexibility to the airline.
- Resumed aircraft deliveries with the addition of two new ATR42-600s in December 2021. This brings its fleet to eleven aircraft and anticipates further growth of the ATR-600 fleet in 2022.
- Obtained approval to fly ATR aircraft in cargo operations and placed five ATR72-500 freighters into service by the end of 2021.
- Expanded its codeshare agreement with United Airlines with new destinations in the Caribbean and the southeastern United States.
- Finalized the integration of Seaborne Airlines.
Rossum added, «After the most extraordinary period in the history of commercial aviation, we are energized by achieving these transformational initiatives.»
Gregory L. Segall, Silver’s President, added, «Over the past several years, Steve Rossum and his team have led Silver through extraordinary challenges and implemented bold initiatives. By transforming our fleet to the modern and efficient ATR turboprops Silver now has the resources it needs to aggressively execute its growth strategy.»
See also: Silver Airways rreceived its first ATR 72-600 under lease from True Noord
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