In a move that surprises no one given the recent shuttering of business-class-only jet services MaxJet Airways and Eos Airlines, Silverjet, the last of the three, has folded. The London-based company failed to get a necessary $5 million in emergency funding to continue operations. The rise in the price of jet fuel doomed the business which was never profitable in its 16-month run. Lawrence Hunt, the chief executive of Silverjet, says on the Silverjet website that it might not be over yet, if he is able to get new investors with deep pockets the company will start up again. Unfortunately given the track record of business-class-only airlines, which despite the obvious appeal, seemed doomed to failure, he will have a tough road ahead.Silverjet Closes Up Shop
In a move that surprises no one given the recent shuttering of business-class-only jet services MaxJet Airways and Eos Airlines, Silverjet, the last of the three, has folded. The London-based company failed to get a necessary $5 million in emergency funding to continue operations. The rise in the price of jet fuel doomed the business which was never profitable in its 16-month run. Lawrence Hunt, the chief executive of Silverjet, says on the Silverjet website that it might not be over yet, if he is able to get new investors with deep pockets the company will start up again. Unfortunately given the track record of business-class-only airlines, which despite the obvious appeal, seemed doomed to failure, he will have a tough road ahead.
