Argentum Airways Launches First Commercial Flight in Alaska

Alaska’s newly launched airline, Argentum Airways, marked its inaugural revenue flight on January 20, 2026, connecting Anchorage (ANC) and Kenai (ENA).

This airline operates as a division of Aleutian Airways, which itself was established through a partnership between Alaska Seaplanes and Sterling Airways, the latter being a subsidiary of the investment firm Wexford Capital. Alaska Seaplanes stepped away from the venture after three years, with Sterling Airways taking over all flight operations.

Sterling Airways, a certified Part 121 operator based in Jacksonville, Florida, remains actively engaged in this initiative. Notably, all three brands—Aleutian Airways, Argentum Airways, and Sterling Airways—function under the leadership of Wayne Heller, who serves as the Chief Executive Officer (CEO) and also holds a position as Senior Vice President at Wexford Capital. His background includes experience as the Chief Operations Officer at Republic Airways.

Wexford Capital’s entry into the airline industry commenced with the acquisition of ViaAir in 2020, a minor regional airline based in Florida that unfortunately ceased operations in 2019. This airline was later rebranded as Sterling Airways.

The company’s venture into Alaska’s regional market began in 2022 with the establishment of Aleutian Airways, which provides essential connectivity throughout the Aleutian island chain that extends nearly 2,000 kilometers into the Pacific Ocean, southwest of Alaska’s mainland. Aleutian Airways operates a fleet featuring leased Saab 2000 turboprop aircraft.

While Aleutian Airways has effectively filled the void left by PenAir’s bankruptcy in 2020, Sterling Airways aims to capture a wider audience across Alaska with its new Argentum Airways brand.

Air travel is crucial for Alaska, given the vast and rugged terrain that requires reliable connectivity. The challenges in this sector were highlighted when Alaska’s largest regional airline, Ravn, went through two bankruptcy filings in the last five years, thus opening doors for new competitors.

Wexford Capital also acquired certain assets from the now-defunct Silver Airways, a regional airline from Florida that ceased operations in the summer of 2025. One of Silver Airways’ ATR72-600 aircraft was repurposed for launching Argentum Airways, with the airline’s name “Argentum,” meaning “silver” in Latin, likely hinting at this connection.

For more details on future plans, further comments from Aleutian Airways are anticipated. What do you think about the emergence of new airlines in Alaska’s regional market?