Silver State Helicopters

February 23, 2009 - 11:08am

A year after training school Silver State Helicopters shut its doors and declared bankruptcy–leaving 2,400 students deep in debt with their professional pilot training incomplete–helicopter flight schools are facing the double burden of tight credit and suspicion by lenders about students’ ability to repay loans.

February 20, 2009 - 6:35am

While Silver State Helicopters operated more than 200 helicopters at its numerous training locations, trying to track their current whereabouts is a daunting task.

February 20, 2009 - 6:33am

As the economy continues to founder, the financial ripples are reaching all aspects of the aviation industry, including flight schools. Helicopter flight schools, in particular, are beginning to feel the pinch as many have noted a drop in enrollment levels amid the double burden of a tight credit market combined with suspicion about students’ abilities to pay off loans in the wake of the Silver State Helicopters collapse.

December 31, 2008 - 7:40am

Hughes 269A, Bremen, Ohio, Aug. 23, 2008–The pilot said that the helicopter’s main rotor rpm was too low as he flared for landing, when practicing a quick-stop maneuver.

September 25, 2008 - 5:19am

New York and Las Vegas are two of the most rarefied helicopter markets in the country. While the winds of fortune can be lucrative for operators and service providers in both places, the environments also feature cut-throat competition, congested airspace, an aggressive amount of multi-level government oversight and regulation and robust anti-noise litigation from an affluent citizenry and their environmentalist allies.

August 29, 2008 - 1:21pm

New York and Las Vegas are two of the most rarefied helicopter markets in the country. While the winds of fortune can be lucrative for operators and service providers in both places, the environments also feature cut-throat competition, congested airspace, an aggressive amount of multi-level government oversight and regulation and robust anti-noise litigation from an affluent citizenry and their environmentalist allies.

August 12, 2008 - 5:13am

BELL 206L-4, AURORA, COLO., MAY 8, 2003–At 5:15 p.m. MDT Bell N70TV, registered to Helicopters Inc. of Cahokia, Ill., and flown for KMGH-TV in Denver, was destroyed when it collided with terrain during a simulated engine failure in Aurora. The ATP-rated check airman received minor injuries and the commercial pilot and a mechanic passenger were uninjured. The aircraft was operating in VMC and was not on a flight plan.

July 29, 2008 - 11:46am

The state of the assets of bankrupt Silver State Helicopters is providing clues about how the troubled company was run before its shutdown and Chapter 7 (liquidation) bankruptcy filing in February. At the time of its closing, Silver State was the largest civilian helicopter school in the U.S., with 2,400 students and more than 700 employees distributed among 33 locations.

July 29, 2008 - 11:28am

Students of the now-defunct training school Silver State Helicopters are suing KeyBank, one of the banks that financed their tuition, charging that it engaged in fraudulent loan practices and was an active participant in a Ponzi scheme concocted by Silver State executives. Silver State filed Chapter 7 liquidation bankruptcy on February 3.

May 2, 2008 - 5:44am

A former instructor at bankrupt and defunct helicopter school Silver State Helicopters has opened his own flight school in New Braunfels, Texas. Derrick Smith opened Veracity Aviation two weeks after Silver State’s collapse in February. The school operates one Robinson R22 and has eight students.

 
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