Late in the evening of June 10th, Silver Airways announced on Instagram that it had suspended its operations as of June 11th.
With the closure of Silver Airways, travelers were stuck without flights during the busy summer travel season, raising questions about rebooking and future travel.
Here are some things you need to know about the collapse of your local airline if you book a flight through Silver Airways.
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What caused Silver Airways to close?
On December 30, 2024, Silver Airways posted an open letter to its clients, describing the company that voluntarily filed for Chapter 11 bankruptcy.
“This decision will allow us to take on a financial restructuring that will secure additional capital and strengthen our position as a competitive airline,” the letter said. The airline indicated that the process will be completed by the first quarter of 2025, noting that all tickets remain in effect.
According to an Instagram post on June 10th, the airways pointed to issues with fiscal restructuring that will allow businesses to continue to continue.
“To restructure the bankruptcy, Silver has begun trading to sell its assets to another airline holding company. Unfortunately, it is determined not to continue its Silver flight operations in Florida, the Bahamas and the Caribbean,” the post read.
This post encouraged travelers to not go to the airport. “All credit card purchases should be refunded through a credit card company or travel agent.”
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What should Silver Airways travelers do?
If you book a flight through Silver Airways, please contact your credit card company or travel agent to request a refund. It may take several weeks to process and receive your refund, so start the process immediately.
Silver Airways offered flights to destinations in Florida, but offered destinations in the Bahamas and Caribbean, while several other airlines flew to the same area. American Airlines has flights that fly to most of the destinations covered by Silver Airways and depart from Miami International Airport. JetBlue, Cape Air and Frontier Airlines fly most of the same route that Sinver Airways flew from San Juan.
If you need to book a new flight, buy the flight as soon as possible. Airline ticket prices have risen 25% last year alone, and airfare prices can rise sharply if you wait until the very end to buy tickets.
How can I protect myself from cancelling flights?
Flight cancellations in Florida due to the closure of Silver Airways have left travelers stuck, and many travelers will eventually have to pay more to rebook their flights. If you are planning a trip, there are several steps you can take to protect yourself from flight cancellations.
Know your rights. In 2024, the U.S. Department of Transport issued rules regarding refunds after cancelled flights. This rule grants the airline the right to an automatic refund if it cancels a flight and does not rebook it. If your airline offers a rebooking but does not accept it, you are also entitled to a refund. Book your flight strategically. If possible, fly early in the morning to ensure that your flight is not affected by delays that occurred earlier in the day. If possible, book a direct flight as you don’t have to worry about flight delays and you don’t have to miss your flight connection. If you are flying to an event destination like a cruise, schedule your flight and arrive early for an extra day. If your flight is cancelled, you will have time to rebook another flight without missing the cruise. Read the conditions carefully. Please read the airline’s terms of service policy thoroughly before purchasing a flight. Beware of refundable deposits and try to minimize or avoid them. We will also check the airline cancellation policy. Buy travel insurance. Travel insurance will help you recover some or all of the non-refundable expenses if your flight is cancelled. When purchasing travel insurance, read the policy thoroughly and understand how it works.
Conclusion
While it may not be possible to fully predict the collapse of the airline, we recommend monitoring the news for information about the airlines that are scheduled to fly with them.
Silver Airways shared news about bankruptcy months before the operation was cancelled. If you have a similar instance with your airline, we recommend rebooking with another airline just in case.
