News: Silverjet unlikely to find new buyer
Flights > News > # 1800 (17/06/2008)
The prospects of another buyer being found for all-business-class airline Silverjet are “remote” according to its liquidator.
The Luton-based business class-only airline was forced to lay off all 420 staff on Friday after a deal with Irish investor Kingplace collapsed.
It has been reported that the sale broke down due to Civil Aviation Authority (CAA) demands for at least six months capital to be available in order to grant Silverjet a new operator’s licence.
Silverjet’s administrator, Begbies Traynor, has reportedly said the chance of finding another investor was “pretty remote”.
Silverjet collapsed into administration last month after it failed to secure an emergency $5 million (£2.5 million) loan from Abu Dhabi-based Viceroy Holdings.
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