Silver Airways Announces Industry Leading Pay and Bonus Agreement for its Pilots
Letter of Agreement Includes First-ever Block or Actual Hours Flown Incentive and Additional Ways to “Make More Money”
Hollywood, Florida – Silver Airways, America’s leading independent regional airline and The International Brotherhood of Teamsters, the carrier’s collective bargaining agent for its pilots, have finalized a letter of agreement (LOA) where newly hired pilots and pilots who already enjoy a decades-long career with the airline will have multiple ways to “Make More Money,” starting with a new pay scale for both First Officers and Captains effective June 1, 2022.
With this agreement, and before additional incentives are applied, the starting hourly rate for a first year First Officer will be $52.03 and the rate for a first year Captain will be $92.01. Also included in the LOA is a unique block or actual hours flown supplement that applies to all pilots regardless of position or seniority. Through this incentive, all pilots who fly within the airline’s passenger operations will receive a 10% override applied to the block or actual hours flown – meaning, the first year hourly rate for a First Officer would effectively become $57.23 and the rate for a first year Captain would effectively be $101.21. Both rates are now at the top of the pay scale for the regional airline industry.
As the airline has experienced significant expansion with its cargo operation based at Fort Worth Alliance Airport (AFW) in Texas, pilots who fly from AFW within the cargo division will have a 30% override applied to the hourly rate. With this industry-first incentive, the starting hourly rate for a First Officer would increase to $67.63, and for a first year Captain, the effective hourly rate would be $119.61. Pilots based in AFW will also receive a $300 monthly living allowance.
Silver is the North American launch customer of the ATR 42-600 and ATR 72-600 and is committed to providing additional opportunities for its pilots to enjoy meaningful quality of life with schedules that offer minimal overnights while receiving top compensation. Some of these earning options include:
- $10,000 New Captain Bonus – for pilots who join as Direct Entry Captain, or upgrade
- $30,000 Longevity Bonus at the second year mark as Captain
- $40,000 Longevity Bonus at the fifth year mark as Captain
- 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 AFW cargo
These incentives are in addition to other bonus programs, such as the annual High Season Bonus, which was ratified in the current CBA completed last summer. Pilots who complete flying during the carrier’s busiest period will receive an additional $4,000 bonus for the 2022 High Season.
“The commitment of our pilots to safely and reliably transport our passengers and enhance the success of our growing cargo operation, is unparalleled in my airline career,” said Steven A. Rossum, Silver’s Chief Executive Officer. The CEO added “Our thanks to the International Brotherhood of Teamsters and our pilots who recognized the growth potential for Silver and quickly negotiated and ratified this transformational agreement.”
“This is an exciting time for Silver Airways,” said Captain Charles Osborne, Silver’s Chief Pilot, “Our pilots have multiple career paths with the ability to gain rapid and valuable experience flying for our cargo or passenger operations, or both, all while receiving outstanding training, accumulating hours, and enjoying an exceptional quality of life and working with an amazing team of dedicated aviation professionals.”
While some of the incentives in the LOA will expire December 31, 2023, the pay scale is considered ratified until the expiration of the current collective bargaining agreement which expires October 1, 2025. Additional details and the full Letter of Agreement can be found here.