Silver Airways (3M, Fort Lauderdale International) cancelled all its flights to and from Orlando International due to the ongoing dispute between the carrier and some of its lessors as part of its Chapter 11 bankruptcy reorganisation process.
In a statement to ch-aviation, Silver said that while its restructuring has been going "exceedingly well," lessor TrueNoord "abruptly reversed its previously stated position and required Silver to pay millions of dollars to retain the aeroplanes we have been flying for years." Additionally, the lessor ordered the immediate grounding of the fleet, which forced the flight cancellations to and from Orlando.
The carrier leased two ATR42-600s and one ATR72-600 from TrueNoord.
Silver Airways will continue to operate from Fort Lauderdale, Tampa International, and San Juan Luis Muñoz Marin.
In a statement to TV channel Fox 35 Orlando, the Greater Orlando Airport Authority (GOAA) said that they received a notification on Saturday that “effective immediately, all departing and arriving flights with Silver Airlines are cancelled.” No reason behind the cancellation was provided.
The company operated scheduled flights from Orlando to Fort Lauderdale International, Key West International, Marsh Harbour, and Pensacola Gulf Coast Regional, the ch-aviation schedules module shows. The airport represented Silver Airways’ fifth largest market by capacity, accounting for 9.14% of its scheduled operations.
Silver Airways and subsidiary Seaborne Airlines (BB, San Juan Luis Muñoz Marin) were recently forced to reduce their fleets size after failing to reach an agreement with three lessors as part of its bankruptcy reorganisation. The carrier has to return the three ATRs to TrueNoord, and three ATR42-600s to Nordic Aviation Capital, while Seaborne Airlines will return one DHC-6-300 to Kenn Borek Air.
Following the downsizing of its fleet, Silver Airways operates three ATR42-600s (leased from Azorra) and five ATR72-600s (three from Azorra and two from Jetstream Aviation Capital).
The dispute began in February after Nordic Aviation Capital filed an objection against Silver Airways' continued use of cash collateral. It argued that the carrier violated its lease agreements by removing engines and parts of its leased fleet without replacing them.
