However, the airline may still lose its main operational base if it continues to miss payments.
Operating ATR 72- and 42-600s across the Southeastern US and the Caribbean, Silver Airways' CEO, Steve Rossum, informed the Broward County Commission on April 18 that Fort Lauderdale is their most crucial hub. He acknowledged that over 300 of the company's 883 employees reside in the region and stressed the importance of rebuilding trust with the commission and the Broward County Airport Authority for Silver to achieve its full potential.
The commission was prepared to decide on terminating Silver's lease on April 18, after receiving several default notices detailing unpaid terminal lease obligations for operations at Fort Lauderdale. Silver's outstanding balance had risen to approximately $1.4 million, including more than $1 million in "seriously delinquent" rent, gate fees, landing fees, and late fees.
Negotiations for a payment arrangement were fruitless until the evening of April 17, when Silver and Broward County reached a tentative forbearance agreement. The arrangement grants the county administrator the power to terminate the agreement if payments are not made.
County administrator Monica Cepero expressed optimism about the deal, stating that it serves the community, airport, and county's best interests. As per the agreement, Silver must pay $200,000 immediately, followed by $300,000 due on May 19 and a $100,000 replenishment of the airline's security deposit in the subsequent month. Equal monthly installments will then be required from August 18 through April 19, 2024.
The Broward County Commission, comprising nine members, unanimously approved the new payment agreement with Silver Airways.
