BREAKING: Silver Airways Bankruptcy Auction Details Finalized

A U.S. bankruptcy judge set the price and date to auction off the regional airline’s remaining assets

Silver Airways remaining assets are going on the block to settle more than $400m in acquired debt. The future of the airline is uncertain / www.tedlund.com

Beleaguered regional carrier Silver Airways is headed to the auction block on May 28 after a ruling from the U.S. Bankruptcy Judge overseeing the case. The judge’s order also set a minimum reserve of $5.775m on the few remaining assets according to The St. Thomas Source.

The airline owes creditors more than $400m in debt.

Despite the bankruptcy filing, Silver Airways has assured customers that all tickets remain valid and that flights will continue to operate as usual.

Poorly.

Travelers will want to be sure to check flights in and out of Key West, as many flights marketed by major carriers like American, Delta and JetBlue are operated by Silver.

The best way to know, is that if you are flying to Key West from any airport in Florida other than Miami or Orlando, you are flying on Silver.

Already an issue, Silver’s on-time and cancellation metrics have crumbled as the carriers fleet has been scavenged by repossessions from lessors.

Intrastate travelers need not worry, as Breeze Airways, a new-upstart low-cost-carrier launched by JetBlue founder David Neelman, begins service to Key West with all jet aircraft from Tampa and Orlando beginning June 12 and is adding additional service from Raleigh-Durham, NC.