Silverjet secures 2 Boeing aircraft

Silverjet has entered into a letter of intent
to secure two Boeing 767 - 200 aircraft from Thomsonfly Limited (“Thomsonfly”) for
delivery by no later than 31 March and 31 October 2007.

Silverjet now announces that, on 19 September 2006, it entered into a letter of
intent for $37 million of financing with Novus Aviation Limited (“Novus”) to sell
and lease back, and to fund the refurbishment and fit out of the two aircraft. The
arrangements extend for a period of ten years and include, within the fit out, the
purchase and installation of new Sicma flat beds.

 

Silverjet is pleased to report that the arrangements with Novus, and therefore the
securing, refurbishment and fit out of the two aircraft, fall within the parameters
of its business plan.

 

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The Directors anticipate that Silverjet will enter into the respective agreements
with Thomsonfly and Novus by no later than the end of the year.

 

Novus is an aircraft management services company which specialises in co-investing
and setting-up investment funds to acquire aircraft on lease to commercial airlines.
Currently Novus manages or co-manages a total of 19 aircraft, with a combined value
exceeding $1 billion, which are on lease to airlines in Europe, Asia and the Middle
East.

 

 

 

Negotiations to secure a third Boeing 767 - 200, which the Directors intend to use
to commence Silverjet operations in December 2006, are at an advanced stage. The
Directors anticipate making a further announcement in due course.

 

Lawrence Hunt, Chief Executive of Silverjet, stated: “The financing of the first two Boeing 767 acquisitions marks a further important
step in the launch of Silverjet.

 

“With negotiations to secure the launch aircraft highly advanced, we look forward to
offering our customers an award winning flat bed, an industry beating 30 minute
check in, an average fare of £999 and a premium in-flight service.”


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