A Last-Minute Call, An Airline Saved: Inside Seaborne’s New Chapter

Darrell Richardson remembers exactly where he was when the call came. A friend — a retired airline executive — rang him up with a simple question: “Did you hear they’re selling Seaborne?”

He hadn’t. But within days, Richardson was on a flight to the Virgin Islands, pitching the opportunity to his most trusted investors. “I made one phone call,” he said in an interview with the Source Saturday. “Two days later, we bid.” And just like that, one of the region’s most iconic carriers — and the world’s only Part 121-certified seaplane operation — had a new owner.

For Richardson, now president and CEO of Seaborne Airlines, the challenge wasn’t new. He’s built a career out of turning around struggling carriers. After stepping in at Silver Airways following its 2010 bankruptcy, he rebranded the airline and led it into growth before retiring in 2013, long before its more recent financial collapse. “This is what I do,” he said simply.

This time, he wasn’t working alone. Behind the swift acquisition was the Leonite Fund, a New Jersey-based investment firm with a reputation for supporting small businesses poised for growth. Richardson had worked with them before, describing the relationship as one built on trust. “They’re probably my favorite investors when it comes to putting these types of packages together,” he said, adding that after calling to pitch the deal, they said yes immediately. “Two days later, we had the bid in.”