Agreement Includes Industry-First Incentives 

Silver Airways LLC, the U.S. regional airline headquartered in Fort Lauderdale, Hollywood International Airport, has finalized a letter of agreement with its pilots.

The deal includes a unique block or actual hours flown supplement that applies to all pilots regardless of position or seniority. The supplement entitles all pilots who fly within the airline’s passenger operations to a 10% override applicable to the number of block hours they fly. Per the supplement, the $52.03 first-year hourly rate for a First Officer would effectively become $57.23. The first-year Captain’s base pay of $92.01 would increase to $101.21. Both rates are industry bests. 

Thanks, in part, to significant expansion of Silver Airway’s cargo operations, pilots within its cargo division will have a 30% override applied to their hourly rates. Per this industry-first incentive, the starting hourly rate for a First Officer would increase to $67.63. For a first year Captain, the effective hourly rate would be $119.61. Cargo division pilots will also receive a $300 monthly living allowance. 

Additional provisions of the agreement include:

• $10,000 New Captain Bonus – for pilots who join as Direct Entry Captain, or upgrade
• $30,000 Longevity Bonus for second-year Captains
• $40,000 Longevity Bonus for fifth-year Captains
• Sick/Vacation Day Buy Back Program – up to 5 days per quarter at 125% of the hourly rate for superior attendance
• Quarterly Captain Retention Bonus of $3,000 in passenger operations and $4,000 in cargo operations

These incentives are in addition to other bonus programs, such as the annual High Season Bonus, which entitles pilots who fly during the carrier’s busiest period to an additional $4,000 bonus. 

While some of the incentives in the LOA are subject to further negotiations, the pay scale is considered ratified until the 01 October 2025 expiration date of the current, collective bargaining agreement.

FMI: www.silverairways.com/docs/default-source/default-document-library/2022-pay-and-retention-loa-%282022-05-13-final%29.pdf