United Kingdom
United States
Asia Pacific
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
Related News Stories:
Phil Davies
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls
Unexpected wave rocks cruise ship