Flight Only / Airline and Airports

Discussions relating to flight only, airlines and airports.
SILVERJET
11 Posts
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see here for flight reviews.

Sounds good value to me.
I've flown on Eos which was utterly fantastic if they can afford to spurge - I know they are doing a 2 for 1 offer at the moment - book by tomorrow though.

http://www.airlinequality.com/Forum/silverjet.htm
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Thank you very much for the link that's very helpful. I've passed it on.

Shell :D
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Darren that's brilliant and very much appreciated thank you :wink:
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Silverjet's shares suspended

UK all business class carrier Silverrjet has suspended trading of its shares on the AIM market of the Stock Exchange amid funding difficulties.

The Luton-based carrier said it had yet to receive a $5 million drawdown from a planned loan it was expecting on May 2.

This casts doubts on planned loans to the airline of £8.4 million and a £4.3 million investment from Dubai-based international luxury development fund Viceroy Holdings.

It is not known why Viceroy has been unable to provide the funding.

Silverjet, which operates to New York and Dubai, said services "continue as scheduled".

But the airline reiterated a statement issued on April 30, saying: "Silverjet's working capital reserves are limited and advances under the Loan Facility are required as a matter of urgency."

The carrier said this morning: "In the circumstances, Silverjet has requested, and the London Stock Exchange has confirmed, an immediate suspension in the trading of the ordinary shares of the company on the AIM market of the London Stock Exchange.

"Silverjet continues discussions with other parties, which have confirmed an interest in investing in the company."

The suspension of the airline's shares follows the collapse of US all-business transatlantic carriers MAXjet before Christmas and Eos in April.

Record oil prices are having an impact on all airlines coupled with the global economic slowdown.

With permission from Travelmole

Silverjet shares ‘very unlikely' to regain listing - analyst

Silverjet will only survive with a major cash injection from shareholders, a city analyst warned today.

Mike Stoddart of city firm Daniel Stewart - who issued a damning analysis of Silverjet's prospects for survival in January - was reacting to the suspension of the business class carrier's shares on the Stock Exchange (see previous TravelMole story).

In a note today, the firm said: "We consider it very unlikely that Silverjet's shares will regain a listing.

"In addition to the problems with the business model which we highlighted in our initiation note in January, the meteoric rise in the oil price has added further misery.

"We now estimate that it costs over £44,000 in fuel alone for a round trip to New York on a Silverjet B767, up from £28,600 at the time of the November 2007 fund raising.

"Against this background, we do not think anyone will bid and that, for Silverjet to survive, current shareholders will need to inject large amounts of fresh equity."

With permission from Travelmole
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It looks like the inevitable has happened and Silverjet have joined EOS and Maxjet :(

http://news.bbc.co.uk/1/hi/business/7427056.stm

Cheers,
Jet
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Almost 10,000 passengers hit by Silverjet grounding

Almost 10,000 passengers have been affected by Silverjet ceasing operations this morning.

The Civil Aviation Authority estimates that 7,000 UK and 2,500 overseas passengers have bookings with the business class carrier.

The CAA today issued advice to passengers due to fly with the airline to Newark or Dubai.

Those with flights booked only have been told to make alternative arrangements with other airlines.

Passengers who booked just flights using a credit card are advised to contact their credit card company.

Customers who paid by debit or charge card should contact their card company for advice, or check any travel insurance policy taken out about any airline insolvency cover that may be provided, according to the CAA.

Those with Silverjet flights booked with chauffeur drive or valet parking, or Silverjet flights booked through travel agents are protected under an ATOL licence.

Customers due to fly back to London from New York or Dubai should make their own flight arrangements with other carriers and apply to the CAA for reimbursement of the cost.

Customers with advance flights and chauffeur drive or valet parking made direct or through a travel agent should make a claim from ATOL by contacting the CAA.

Customers who booked direct with Silverjet and paid by American Express credit card should contact American Express. For payments to travel agents, make a claim from ATOL.

Non-UK customers are advised to contact their home country's aviation/consumer protection organisation or their credit card company for advice and information about whether they are able to obtain refunds or assistance.

British Airways joined Virgin Atlantic in offering special rates to Silverjet ticketholders.


With permission from Travelmole
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This doesn't really come as a shock and has been rumoured for a while. When they didn't take the two Boeing 767-204/ER's from Thomsonfly, as agreed and following the demise of EOS and Maxxjet, it was only a matter of time. It's a shame to see them go as it was a great concept and those who travelled with them seemed impressed. Given the current economic climate though, it was always going to be tough for them.

Darren
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Silverjet to fly again?

Lawrence Hunt, the founder and CEO of grounded business-only carrier Silverjet, is reportedly attempting to revive the airline.

Other reports suggested that an unnamed airline had also made an offer for Silverjet, which collapsed owing creditors a reported £40 million.

Hunt has teamed up with a Swiss investment company Heritage Cie to make an offer for the airline which was put into administration a week ago, according to newspaper reports this morning.

Kingplace, an Irish-based vehicle backed by Heritage, has made the bid to the administrators of Silverjet, Begbies Traynor.

Hunt reportedly said: "I am delighted to confirm that Kingplace is in conversation with Begbies Traynor about Silverjet resuming operations in the near future. As CEO of Silverjet my aim is to see Silverjet up and flying as soon as possible."

Heritage chairman Ian Ilsley said: "We are excited at the prospect of acquiring Silverjet and resuming operations as quickly as possible with the existing staff."

The Luton-based airline suspended services to New York and Dubai last week leaving 9,500 passengers without flights.


With permission from Travelmole
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