Silver Airways may return under new ownership. Argentum plans to relaunch service with ATR 72s, eyeing Caribbean routes and potential Alaska expansion.
Based on a report from AirlineGeeks, a private investment group called Argentum is stepping in to take ownership of all of the airlines’ operation certificates as well as their aircraft fleet. Argentum was formed by Wexford Capital. The same group that originally owned Silver, and the group that intended to liquidate all of Silver’s assets.
If Argentum is approved to restart operations, they plan on starting with only one ATR 72 turboprop plane. They hope to add an additional ATR 72 to service before the end of 2025.
The ultimate goal for Argentum would be to resume former Silver Airways routes. Silver Airways historically operated flights between Florida and the Caribbean. They even performed flights as far west as Montana. But Argentum is planning on resuming service to the Caribbean as well as including Alaska as a potential expansion opportunity.
As we always say, “More competition means more options for customers”. When customers have more options they always win because competition brings the best out in airlines. For Floridian’s looking to travel involving the Caribbean, an airline ecosystem with Silver Airways is a much healthier ecosystem.
Since Silver’s Bankruptcy announcement, there have been some carriers jumping in to fill the gap left by the airline. BermudAir launched AnguillAir to connect Anguilla with Boston and Baltimore. American Airlines is also ramping their Florida regional network in hopes to spur more travel to the Caribbean via Miami.
Despite Silver not having the most desirable product there is a niche carved out for passengers that like their routes and service over some of the large mainline air carriers. Silver has noisy and slow ATR turboprops. But they are flying those underserved routes that customers care deeply about in the region. Silver customers tend to prefer avoiding long TSA lines at airports served at airports utilized by the larger airlines. They also can charge cheaper prices. Historic Silver Customers aren’t going to find that anywhere else.
The airline market for Florida is crowded. One place where it isn’t as crowded is Alaska. With Alaska Airlines focused on its Hawaiian Acquisition and long haul pivot, there might be some room for a smaller operation to begin flying underserved routes to Alaska. This is especially true for communities that fall under Essential Air Service (EAS) subsidies.
Silver’s ATR 72 Fleet is designed for Alaska’s rough, rugged terrain. However, one thing would likely need to change, Silver’s bright pink Flamingo branding. This aircraft livery may work in the Key West, but not so much in the Alaskian outback. If Argentum does revive the airline, it may be in their best interest to rebrand to appeal to more of a national footprint.
