UAE wet-lease operator Silver Air halts flights to restructure

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United Arab Emirates leasing specialist Silver Air has temporarily suspended its air operator's certificate while it undergoes a restructuring exercise.

The Dubai-based company, which has a pair of Boeing 737-300s, has yet to provide details of its intentions.

But a source familiar with the situation says the operator is not failing financially and has not has its AOC withdrawn.

Silver Air is, however, likely to lay off many of its personnel. The company employs about 70 staff.

Set up as an ACMI specialist, the company secured its AOC about 10 months ago. Its assets include two 737-200s which are up for sale.