Air TransportNew carrier Argentum Airways plans takeoff with Silver Airways’ former assets
A new airline named Argentum Airways is preparing to launch operations using the assets of defunct regional carrier Silver Airways, which ceased all flights earlier this month. The move comes as part of a plan approved by the U.S. Bankruptcy Court in Florida, which oversaw the sale of Silver’s assets to Argentum.
In a filing submitted to the U.S. Department of Transportation (DOT) on June 30, Argentum Airways requested the transfer of Silver’s Federal Aviation Administration (FAA) certificates and exemptions. The start-up also filed a formal notice of intent to resume scheduled passenger flights.
Argentum – named after the Latin word for silver – was established by Wexford Capital, a firm that also owns Sterling Airways, operator of Aleutian Airways in Alaska. Wayne Heller, a former Republic Airways executive and current CEO of Sterling Airways, will lead Argentum as chief executive.
The airline aims to restart operations quickly to preserve jobs and make use of the former Silver Airways fleet and infrastructure. Argentum plans to initially operate a single ATR turboprop that previously belonged to Silver, with the potential to add a second aircraft by the fourth quarter of its first full year of operations, according to Flight Global.
Silver’s fleet of ATR turboprops
Argentum has not yet finalized its network strategy but is considering restoring routes that Silver previously served, including flights between Florida and the Bahamas. The company is also exploring potential expansion into Alaska.
Silver Airways filed for bankruptcy in December 2024 after struggling with financial difficulties. The airline officially halted operations on June 11, just days before the sale of its assets to Argentum was completed. This abrupt shutdown disrupted the transition process that Argentum had hoped would be smoother.
“Silver’s sudden termination of service warrants Argentum’s request for authority to resume operations with the assets and business it acquired,” the new carrier said in its DOT filing.
Silver held operating certificates for both domestic U.S. flights and services to the Bahamas, Turks & Caicos, and other Caribbean destinations using ATR 72 turboprops.
The future of Silver’s full fleet of ATR 42s and ATR 72s remains uncertain. Some industry observers believe that parts of the fleet could end up with JSX, a U.S. charter operator that recently announced plans to introduce ATR turboprops into its own operations.
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