On August 1, Silver signed a letter of intent to renew and expand its fleet with up to 50 new ATR-600 series aircraft, with the transaction valuing up to $1.1 billion. The initial order is for 20 ATR-42-600 aircraft and the agreement also provides Silver the ability to up-gauge to the larger series ATR-72-600s. The firm 20 aircraft will be lease financed by Silver.

“Thanks to our incredibly dedicated and hardworking team, this aircraft acquisition is a monumental leap forward for Silver, our team members, and our passengers, and will allow us to expand our network with greater reach, including further into the Caribbean and the Southeastern United States,” said Jason Bewley, Silver Airways president and CFO. “As the world’s leading regional aircraft, new ATRs will provide Silver’s passengers unparalleled experience and reliability and our pilots the industry’s most advanced cockpit. Silver is honored to partner with ATR as its North American launch customer for these technologically advanced aircraft.”

Christian Scherer, ATR’s Chief Executive Officer declared: “Our thanks and congratulations go to our new customer Silver Airways. Silver's detailed evaluation vindicates our belief that the ATR42-600 is the obvious aircraft of choice to upgrade older 30-50 seat regional fleets. We are excited that the traveling public in the U.S. will discover that, when they are onboard an ATR -600 series, flying on a modern prop-jet bears no comparison to the regional aircraft of yesteryear – it is as comfortable and affordable as regional flying gets!”

Silver will take delivery of up to four ATRs this year starting in the fourth quarter following receipt of regulatory approvals. Remaining deliveries of the first 20 aircraft are expected to be completed by the first quarter of 2020. Crew training will be conducted by ATR at its new training facility in Miami, which is home to a new multi-million-dollar investment of a Full Flight Simulator (FFS) for the ATR-600 series aircraft. The new aircraft will replace Silver’s existing fleet of 21 Saab 340B Plus turboprop aircraft over time.