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slcdeltarumd11
Topic Author
Posts: 4756
Joined: Fri Jan 09, 2004 7:30 am

Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 3:47 am

I know Silver was very public about needing Cash. Has anything changed? Silver operates quite a few unique routes that no one else flys

They seem to have been operating quite a few empty flights. Does this mean they got government assistance and that is part of their deal?

Any discussions on Silver and their current cash crises, please discuss here.


https://www.businessinsider.com/coronav ... ine-2020-3

https://www.postandcourier.com/health/c ... e654c.html
 
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FLALEFTY
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Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 4:22 am

They have been in financial trouble for a couple of years. Silver had to delay taking the first batch of their new ATR-42/72-600 fleet by a year due to difficulties in obtaining financing. Last year Silver took delivery of 7 ATR-42's and 3 ATR-72's, which crimped their cash flow. Now with the COVID-19 crisis, Silver may go down for the count if they don't get help. Which is too bad because they have a nice regional network here in Florida.
 
F27500
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Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 11:22 am

Although i think those ATRs look so groovy in that new livery of Silver's, if they've been in financial trouble for years operating Saabs, why would they want even bigger planes .. and more seats to worry about filling ??
 
silentbob
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Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 11:39 am

I hope they are able to get the financing that they need. They're one of the few independent regionals left and I know a lot of people that use their service to EYW
 
evank516
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Joined: Wed Mar 01, 2017 12:15 am

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 3:33 pm

Losing Silver would be a huge loss not just for themselves, but their codeshare partners as well particularly B6 and UA who use 3M to feed their own networks within Florida. Would be bad for EYW too.
 
msycajun
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Joined: Thu Jun 16, 2016 4:13 am

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 4:08 pm

The ATRs were starting to become necessary given the age and limited range and speed of the Saabs. With the ATR you could fly 12 more seats for roughly the same operating cost and less maintenance. Probably their biggest issue pre-Covid was the pilot shortage. On the bright side, if they manage to survive until demand recovers, that shouldn't be a problem.
 
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FLALEFTY
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Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 5:21 pm

msycajun wrote:
The ATRs were starting to become necessary given the age and limited range and speed of the Saabs. With the ATR you could fly 12 more seats for roughly the same operating cost and less maintenance. Probably their biggest issue pre-Covid was the pilot shortage. On the bright side, if they manage to survive until demand recovers, that shouldn't be a problem.


This is correct. Their fleet of Saabs are 2nd, even 3rd-hand and were starting to suffer from reliability issues. Also, demand had been picking up before the crisis and they needed more than just 34 seats to sell per-flight. Their aggressive plan to re-fleet with new ATR's, rather than buy used EMB145's or CRJ's out of the desert storage lots, made sense. The problem is that they have been in the midst of accepting & introducing the new ATR's and need a healthy cash flow to service the capital costs.

I really hope they get some help and can make it through this crisis. Florida is a big state where driving from Ft. Lauderdale to the state capitol of Tallahassee can virtually take all day (6 1/2 hours), rather than just an 1 1/2 hour flight on Silver. We need them.
 
32andBelow
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Joined: Mon Sep 03, 2012 2:54 am

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 6:19 pm

All the small airlines are going to go bankrupt if they aren’t bailed out. RAVN in Alaska is facing the same
Fate.
 
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aemoreira1981
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Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Wed Apr 01, 2020 11:15 pm

32andBelow wrote:
All the small airlines are going to go bankrupt if they aren’t bailed out. RAVN in Alaska is facing the same
Fate.


Ravn is a more significant issue, as you can't just get around and drive around Alaska...you have to fly. I could see the state desiring to step in to maintain essential air links.

As for Silver, those Saabs had to go as they were close to being out of hours.
 
32andBelow
Posts: 4968
Joined: Mon Sep 03, 2012 2:54 am

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Thu Apr 02, 2020 12:06 am

aemoreira1981 wrote:
32andBelow wrote:
All the small airlines are going to go bankrupt if they aren’t bailed out. RAVN in Alaska is facing the same
Fate.


Ravn is a more significant issue, as you can't just get around and drive around Alaska...you have to fly. I could see the state desiring to step in to maintain essential air links.

As for Silver, those Saabs had to go as they were close to being out of hours.

State of Alaska is broke on 20 dollar oil. I understand the fed bailouts don’t really help small operators.
 
MIflyer12
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Joined: Mon Feb 18, 2013 11:58 pm

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Thu Apr 02, 2020 2:42 am

Ravn and Silver are listed in the DOT order. Do part 298C carriers not qualify for the payroll grants and loans?
 
MIflyer12
Posts: 8052
Joined: Mon Feb 18, 2013 11:58 pm

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Thu Apr 02, 2020 2:42 am

Ravn and Silver are listed in the DOT order. Do part 298C carriers not qualify for the payroll grants and loans?
 
slcdeltarumd11
Topic Author
Posts: 4756
Joined: Fri Jan 09, 2004 7:30 am

Re: Silver Airways News- Dire need of cash- any updates? 2020 coronavirus crisis

Thu Apr 02, 2020 3:34 am

Sounds like EYW had been silvers money maker routes? Feeding other carriers mostly. Problem for Silver is that traffic might take a while to come back. Key West lost its really busy spring season and probably summer.

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