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Silverjet in takeover talks
Silverjet is in discussions about a possible takeover.
The low fares business-class airline made the disclosure in response to a rise in its share price in London.
A statement said: “The company is currently in discussions which may or may not lead to an offer for the issued share capital of the company.
“A further announcement will be made when appropriate.”
The AIM-listed airline, which operates Boeing 767s with 100 seats from Luton to New York and Dubai, failed to achieve a operating profit in March as it had previously expected despite a 23% rise in passenger numbers over the previous month.
Chief executive Lawrence Hunt said when reporting March figures that the airline did not generate and operating profit and was not cash generative. But it did record the largest gross profit and smallest operating loss since starting to operate more than one aircraft despite a further “material increase” in fuel costs.
Silverjet started flying transatlantic in January 2007 and added the Luton-Dubai route last autumn.
The all-business class airline sector has seen the demise of Silverjet rival MAXjet before Christmas.
by Phil Davies
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