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Low cost business carrier plans Luton-Newark
A start-up low cost business class airline plans its first route from Luton to Newark.
Silverjet is the brainchild of chief executive Lawrence Hunt, who has been involved in a number of travel companies.
He intends raising £25 million from UK institutional investors to finance the airline through a listing on the Alternative Investment Market next month.
Silverjet’s fares using 100-seat Boeing 767s will average at £999 return to Newark, significantly undercutting traditional carriers’ business fares to New York.
The newcomer plans to start services six to nine months after its listing on Aim and will comepete against other transatlantic newcomers Eos and MaxJet, which operate from Stansted.
Silverjet plans a fleet of 10 aircraft in three years, providing flat beds for passengers.
Hunt, former CEO of Rapid Travel Solutions and a non-executive director of lowcostbeds.com, said: “Bigger companies make most if not all thie profit from premium customers and lose money in economy.”
Other members of the managemnent team include chairman Peter Owen, who spent more than 20 years with British Airways, finance director John Bavister, formerly with Thomas Cook, and operations director Peter Evans, previously with Virgin Atlantic.
Report by Phil Davies
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