ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
A Hollywood-based discount airline is the latest air carrier to file for bankruptcy protection.
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Silver Airways and its seaplane subsidiary, Seaborne Virgin Islands, petitioned for Chapter 11 reorganization Dec. 30, listing up to $500 million in both debts and assets. The petition was filed by CEO Steven A. Rossum in U.S. Bankruptcy Court in Fort Lauderdale.
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Bankruptcy filings reveal the airline incurred substantial debt due to the Covid-19 pandemic, and mounting costs for fuel, aircraft parts and labor for pilots and technicians. Silver Airways also said supply-chain disruptions limited its ability to operate as many aircraft as planned.
Click here to read the full story on the Orlando Business Journal’s website.
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