Seaborne Airlines which services the British Virgin Islands and other countries across the region is being sold.
The company is being sold to United States-based airline Silver Airways.
According to Seaborne, the airline is being sold because of financial strain caused by Hurricanes Irma and Maria.
Most of the countries the airline services such as Puerto Rico, the British and United States Virgin Islands, Dominica, St Maarten were significantly impacted by the category 5 hurricanes.
“While the company’s business has enjoyed a remarkable recovery since the 2017 hurricanes, the financial stress caused during the recovery period coupled with legacy liabilities have made it necessary to seek reorganization protection,” said Acting CEO of Seaborne Airlines, Ben Munson.
Seaborne said the airline’s day-to-day operations will ‘continue as normal’ and will not be disrupted by the sale.
The company said it will also maintain its ‘codeshare’ partnerships that facilitate easy connections with other partner airlines.
Though financial stress from the hurricanes encouraged the airline to sell, Seaborne had entered into negotiations with Silver Airways months ago. It is said that the sale will result in the two airlines will combining fleets.
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