Silver Airways announced that they have voluntarily filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of Florida.

According to a news release, the decision will allow them to "secure additional capital and undertake a financial restructuring that will strengthen our position as a competitive airline, ultimately benefiting you -- our valued customers."

The company believes the process will be complete by the first quarter of 2025.

Read: 7-year-old hurt in drone incident is home, family speaks exclusively with Channel 9

Read below for what this means for customers:

*All tickets remain valid, and we will continue operating as usual

*You can book flights with Silver through our website or any other channel

*United and JetBlue customers, including loyalty program members, will experience no disruptions to their bookings or services

*Tickets purchased through any other airline or agency will be honored

Read: New parking fees for non-residents at Volusia County beaches starting January 1

The release also stated that Silver Airways remains committed to "delivering the safe, comfortable, and reliable travel experience."