11 June, 2008: Silverjet is set to fly again after a company managed by a Swiss trust agreed an undisclosed price for the failed business-class carrier.
The deal, which it is hoped will be completed by June 13, will see all staff kept on by purchaser Irish-based Kingplace and Silverjet tickets still valid.
Director of Kingplace Ian Ilsley said: "Kingplace can confirm that it has agreed terms with administrators Begbies Traynor to acquire Silverjet. If these negotiations are successful, we expect to take on all of the existing staff, to honour Silverjet’s existing customers’ tickets and see Silverjet return to the skies in a matter of weeks.”
The relaunch, however, is subject to CAA approval and it is thought Kingplace will have to inject between £20m and £30m to make the relaunch viable.
Chief executive Lawrence Hunt, who will stay at the company, said: ““I am personally delighted that we now have the necessary backing from a long term investor to relaunch Silverjet. We have received fantastic support from our staff, customers and partners in helping us put this deal together. We will be working around the clock to launch our New York and Dubai services as quickly as possible and we will make an announcement about the date for re-launching our services in due course.”
Silverjet operates between New York and Dubai from London Luton airport. It grounded its fleet 11 days ago.
