Silverjet's shares suspended - TravelMole


Silverjet’s shares suspended

Thursday, 23 May, 2008 0

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



Related News Stories:  



 

profileimage

Phil Davies



Most Read

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
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari