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Silverjet flights grounded
Silverjet has been forced to suspend operations after failing to attract new investment.
The Luton-based all-business class carrier’s last flight was from Dubai to the UK this morning.
The announcement that the carrier had ceased operations came after the failure to attract $5 million in new capital.
Almost 10,000 passengers have been affected (see separate story).
A statement said: “Silverjet continues to be in discussions with investors interested in supporting the business however it has yet to conclude such discussions to its satisfaction.
“It is with deep regret that the board of Silverjet has therefore decided that it must suspend operations with immediate effect.”
The airline, established by chief executive Lawrence Hunt, drew plaudits for its ground-breaking in-flight service on flights to New York and the UAE.
But a combination of soaring fuel prices and a weakening economy has hit the business airline sector particularly hard with US rivals MAXjet and Eos going out of business in less than six months.
Hunt said in a note to travellers on the Silverjet website: “We extend our sincere apologies to those of you who have travel plans with Silverjet in the future and at present.
“You are advised to seek alternative travel arrangements with other carriers and contact your credit card company or travel agenct directly for information on obtaining refunds.”
He added: “We are working actively with new investors and are prepared to inject new funds so we can recommence operations.
“If we are able to achieve this, we will make an announcement as soon as possible.”
Silverjet has hoped to obtain fresh funding from Dubai-based Viceroy Holdings but the cash never materialised. The airline previously admitted that its cash reserves were limited and that advances under the proposed loan facility were required “as a matter of urgency”.
A spokeswoman was unable to elaborate on the chances of the airline being successful in obtaining new funding to re-start operations and could not comment on the impact on staff, other than to say: “Flights are terminated”.
by Phil Davies
Phil Davies
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