29
Silverjet on Brink of Recovery?
Published by admin, under Travel Stories. No Comments.
We previously reported the demise of Silverjet - the business class only UK based airline that used to fly between Luton, New York and Dubai until it was forced to ground itself due to lack of funds. The media have recently been reporting a possible resurgence for the airline:
ArabJet, a Dubai-based business-class airline, has launched a bid to buy the London-based Silverjet PLC, a government-owned business daily reported Tuesday.
Emirates Business 24/7 reported that ArabJet “has allocated sufficient funds to purchase” Silverjet, a business-class airline that suspended operations in late May after a key funding deal fell through.
When contacted by The Associated Press, ArabJet’s CEO Mohammed el-Shanti said the company is interested in SilverJet’s survival but would not confirm the Emirates Business 24/7 report.
ArabJet “had discussions with Silverjet administrators … and we remain interested in Silverjet’s survival,” he said in an e-mail.
“We have great believe in the viability of (Silverjet’s) business model, confirmed by its positive customer satisfaction,” he said.
On Monday, the administrator of Silverjet, Begbies Traynor, said that the airline has received a formal offer from a Swiss investment firm to buy and relaunch the airline. Begbies Traynor also said two other parties have expressed an interest in the carrier.
ArabJet Airlines plans to begin service in 2009, with a focus on the Middle East market, according to the company’s Web site.
Source: The International Herald Tribune
About Arabjet:
ArabJet is proposed as a niche-market, independently (private) operated premium class airline set to capitalize on a significant shortfall in servicing high demands (current and projected) for business class travel within the Middle East region. Comprehensive research has been carried out by a select team of industry and management professionals, to present this solid proposition to key investors and authorities to both compliment and compete on a strong profit-driven platform. The proposition is backed by a sound business plan and strict schedule, with its first operations commencing in 2009.