Silver Airways Continues Fleet Expansion with the Acquisition of Six Additional Saab 340’s

Silver Airways Corp. announced today that it has reached an agreement with Saab Aircraft Leasing to purchase six additional Saab 340Bplus aircraft. Financial terms were not disclosed. This latest acquisition brings the total number of Saab 340’s to 12 in the Silver Airways fleet.

“This fleet acquisition is another giant step forward in our goal to build the dream airline,” said Darrell Richardson, CEO of Silver Airways. “Like the first six Saab’s, these aircraft will enhance and expand our growth opportunities. The Saab 340Bplus has a generation III cabin that allows us to offer a higher quality of service and continue to build on our strong market presence in Florida and the Bahamas.”

Saab 340Bplus aircraft features include comfortable seating for 34 passengers, large, easy-to-access overhead bins, personalized flight attendant service, an active noise reduction system, and convenient on-board lavatories.

Silver Airways will integrate all 12 Saab 340Bplus’ into its fleet by September 2012. Each aircraft will be subject to a period of inspection and certification under U.S. and Bahamian aviation regulations to ensure full compliance with all safety and operational requirements prior to initiating scheduled passenger service. In-service dates for the new aircraft type will be announced upon receipt of regulatory approvals.

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About Silver Airways

Silver Airways Corp. (IATA: 3M) is a U.S. owned and operated airline operating almost 200 daily scheduled flights to/from 46 gateways in Florida, the Bahamas, Georgia, Alabama, Mississippi, Virginia, West Virginia, Pennsylvania, New York and Ohio. The airline, which offers more flights within Florida to the Bahamas than any other U.S. airline, has valued partnership and codeshare agreements with United Airlines and interline agreements with American Airlines, Delta Air Lines and JetBlue.

Silver is a 2013 two-time award winner, having been recognized by its industry and the traveling public. In February 2013, it was named the recipient of Air Transport World’s (ATW) 2013 Regional Airline of the Year Award, the first U.S. airline to win regional aviation’s top honor since 2008. This award recognized Silver’s outstanding achievements, as well as the company’s contributions toward elevating the entire regional aviation industry overall. In October 2013, Silver was named one of the Top 10 “Best U.S. Airlines” in the prestigious Condé Nast Traveler’s 26th annual 2013 Readers’ Choice Awards.

The Silver fleet is comprised of Saab 340B Plus aircraft (with a capacity of 34 passengers in a spacious, noise reduction equipped cabin), each powered by highly reliable, fuel-efficient GE jet-turbine propeller engines. The airline also operates Beechcraft 1900D aircraft (maximum seating capacity of 19 passengers) in the airline’s Cleveland network.

The company is privately owned by Victory Park Capital, a Chicago-based investment firm that launched the airline in May 2011.

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