San Juan-based airline Seaborne Airlines filed for chapter 11 protection today. The corporate debtors are SeaStar Holdings, Seaborne Virgin Islands, and Seaborne Puerto Rico.
A Pending Sale to Silver Airways
A statement is available on the company website. The bottom line? Seaborne Airlines is being sold to Silver Airways. The sale is subject to an auction and court approval. And if it closes, the sale will create the industry’s leading regional carrier in the Caribbean, Florida, and the Bahamas.
Meanwhile, the company plans to continue normal operations. It is supported by a new, $4.2 million credit facility.
“While the Company’s business has enjoyed a remarkable recovery since the 2017 hurricanes, the financial stress . . . coupled with legacy liabilities have made it necessary to seek reorganization . . . . Our day to day operations will continue as normal, and this process will be in the best interests of all of our customers and stakeholders.”
-Ben Munson, Acting CEO of Seaborne Airlines
If you are planning to fly Seaborne, the company wants you to know that passenger service and safety remain top priorities. Good to know!
And existing flights should continue without interruption. Also good information, especially if you are heading south in search of warmth. The 10-day weather forecast for the Caribbean? Mostly sunny with a high of 78 degrees. And in Delaware? Early ice, with highs of around 40 degrees.
The case is pending in Delaware, Case #18-10039. The claims agent is Rust Consulting/Omni Bankruptcy. For more information, watch their website. Or you can contact the company at: