Silverjet Limited, a UK-based airline which intends to launch a new low fare, all business class airline, said that it is looking to trade on AIM, a market operated by the London Stock Exchange.
This is expected to occur in May and will involve new shares rolled out to institutional investors in the U.K.
Silverjet is also seeking to raise $44 million to provide the necessary working capital to launch the airline and develop new routes.
Silverjet said the first service will operate between London and New York.
The airline is expected to commence operation within six to nine months following trading on AIM.
Silverjet says ir will be operating a fleet of ten aircraft, each of which will be configured with inclined flat beds within the next three years.
Silverjet’s average return fare for the London-New York route is expected to be GBP999 ($1,700).
This price is in the same range as that of MAXjet and Eos, both have started business flights on this lucrative route from London Stansted to New York JFK.
These airlines were launched with the hope of putting a dent in the business-fare sales of established transatlantic airlines such as British Airways and Virgin Atlantic, in the same way Ryanair and easyJet have hit them at the economy end of the market.