Silverjet Permanently Grounded

by Deidre Woollard (RSS feed)
Jun 18th 2008 at 7:02PM

Looks like those reports of Silverjet's resurgence were a false alarm. The Telegraph spoke with chief executive Lawrence Hunt who said the business-class-only airline is permanently grounded. There had been hopes that the company Kingplace would be able to bail out Silverjet but they were not able to raise sufficient cash to meet the capital requirements from the Civil Aviation Authority. After that we heard that Middle East carrier Arabjet might take over but Hunt calls them "timewasters" who were not even able to " raise the £125,000 needed to secure negotiations with the administrators." It looks like Silverjet will not be sold off as a going concern but will likely be dismantled with the assets sold off piece by piece.

Tags: airline, business class, silverjet