Florida based Silver Airways is filing for Chapter 11 bankruptcy protection.
It hopes the move will help secure additional capital and turn around its fortunes.
The airline announced it in a communication to customers, ensuring it is committed to maintaining current flight operations during its restructuring.
“This decision will allow us to secure additional capital and undertake a financial restructuring that will strengthen our position,” the letter said.
Silver Airways says customers can continue booking flights and all previously booked tickets will be honored.
Silver Airways, based at based at Tampa International Airport, operates about 100 daily flights from Tampa, Orlando, Ft Lauderdale and San Juan.
It flies ATR turboprop aircraft across the Caribbean and the Southeast US.
