FORT LAUDERDALE, Fla. — Silver Airways and Broward County officials have entered into an agreement that allows the regional carrier to remain at Fort Lauderdale-Hollywood International Airport.
The airline was on the cusp of eviction Tuesday after failing to pay its rent, but a forbearance agreement signed by Silver Airways CEO Steve Rossum and county attorneys was submitted by the Broward County Aviation Department ahead of a planned vote to terminate Silver's lease.
Under the terms of the agreement, Silver agrees to make an immediate payment of $200,000 toward its unpaid balance. Silver must make an additional $300,000 payment by May 19, $100,000 by June 16, another $100,000 by July 21 and then make monthly installments on the total outstanding amount owed from August through April 2024.
The county claims Silver owes more than $1.4 million.
If Silver fails to make its payments, the agreement will be terminated.
"It's unfortunate that we've gotten to this point," Mark Gale, the county's director of aviation, told commissioners during Tuesday's Broward County Commission meeting, according to the South Florida SunSentinel.
Rossum acknowledged that Silver had not been paying its bills and vowed to "do a better job" in the future.
Silver, which has a fleet of propeller planes that fly to places like Tallahassee and the Bahamas, has been operating out of Concourse C in Terminal 1 at the Fort Lauderdale airport since 2015.