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Silverjet’s shares suspended
UK all business class carrier Silverrjet has suspended trading of its shares on the AIM market of the Stock Exchange amid funding difficulties.
The Luton-based carrier said it had yet to receive a $5 million drawdown from a planned loan it was expecting on May 2.
This casts doubts on planned loans to the airline of £8.4 million and a £4.3 million investment from Dubai-based international luxury development fund Viceroy Holdings.
It is not known why Viceroy has been unable to provide the funding.
Silverjet, which operates to New York and Dubai, said services “continue as scheduled”.
But the airline reiterated a statement issued on April 30, saying: “Silverjet’s working capital reserves are limited and advances under the Loan Facility are required as a matter of urgency.”
The carrier said this morning: “In the circumstances, Silverjet has requested, and the London Stock Exchange has confirmed, an immediate suspension in the trading of the ordinary shares of the company on the AIM market of the London Stock Exchange.
“Silverjet continues discussions with other parties, which have confirmed an interest in investing in the company.”
The suspension of the airline’s shares follows the collapse of US all-business transatlantic carriers MAXjet before Christmas and Eos in April.
Record oil prices are having an impact on all airlines coupled with the global economic slowdown.
by Phil Davies
Phil Davies
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