Seaborne Airlines May Survive Bankruptcy as Sale Process Advances Toward July Auction

On Wednesday, those attending a bankruptcy court hearing pertaining to the now-defunct Silver Airways were given a glimmer of hope when it comes to sister airline Seaborne. Unlike Silver, which hit a brick wall when it ran out of enough cash to operate at the end of last week, Seaborne does have enough money to keep going, at least until an auction can be conducted some time before mid-July, the court was told.  There are currently two offers being considered, said Brian Hall, counsel for Seaborne. At the time of the hearing, a deposit for one of the proposals had already been received, with the other deposit expected imminently. In both offers, all administrative expenses for Seaborne would be covered.  Judge Peter Russin, during Wednesday's hearing in the Southern District of Florida Bankruptcy Court, asked for clarity on whether there was “some hope…for failure to find a better term in this case,” that a Seaborne sale could generate sufficient funds to defray some of Silver's out...