Silverjet suspends all operations and calls in administrators

30th May 2008

Silverjet has called in the administrators, just hours after suspending its flights.The business-class only airline, which started in January 2007 and flies from Luton to New York and Dubai, has been trying to obtain £12.7 million under a deal agreed with Middle Eastern investor, Viceroy Holdings. However the deal has failed to materialise.

Lawrence Hunt, its former chief executive, said: “It is with deep sadness that I make this announcement today. The Silverjet team has worked exceptionally hard to try and turn this situation around, however with the time available, we were unable to secure the funding required to continue our operations.”

Silverjet has said it had suspended all operations with immediate effect. Its last flight was from Dubai to London Luton on Friday.

Mr Hunt added: “Silverjet continues to be in discussions with investors interested in supporting the business of Silverjet, however it has yet to conclude such discussions to its satisfaction.”

The airline had five more flights scheduled on Friday, two from Luton to New York leaving at 10am and 6pm and two return flights from New York to Luton leaving at 7.30pm and 10.30pm. There was also a later 10.20pm departure to Dubai.


Silverjet said customers should seek refunds of unused segments of tickets from the point of purchase, such as credit card company or travel agency.

The carrier has been hit by soaring fuel costs, which have risen more than 30% since the start of the year.

Last week shares in the company were suspended after the group said that a five million US dollar (£2.5m) cash injection from United Arab Emirates-based Viceroy Holdings had failed to come through.

UK carriers who operate the same routes as Silverjet said today they would try to help the airline’s passengers. A spokesman for Sir Richard Branson’s airline, Virgin Atlantic, said: “We are introducing special fares for Silverjet passengers which start at £299 one-way to New York and £179 one-way to Dubai.”



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