Silver Airways (Fort Lauderdale International) has announced that an affiliate of Philadelphia-based private equity firm Versa Capital Management, LLC has become the airline's controlling equity holder.
The announcement comes after the Florida-based regional operator announced in December last year that it would be studying potential strategic partnerships as part of a review of its future business plans.
"Working with a strong partner such as Versa Capital Management will allow Silver to continue our longer-term growth plans and expansion deeper into the Caribbean, including our new operation to all nine Cuba destinations beyond Havana,” Silver Airways President and CEO Sami Teittinen said. “With fresh capital and a newly strengthened balance sheet, Silver Airways now has the resources to take advantage of its robust set of opportunities.”
Silver Airways operates a fleet of twenty-three Saab 340Bs on Part 121 scheduled flights to thirty-five destinations in Florida (including hubs at Fort Lauderdale International, Tampa International, and Orlando International), Cuba, the Bahamas, as well as the Mid-Atlantic region from Washington Dulles.
