Silverjet shareholders to receive nothing

Silverjet shareholders can expect to see nothing from their investment following the airline’s collapse into administration.

The carrier is now in the hands of administrator Begbies Traynor and, in a statement this afternoon, said: “The board does not believe there is likely to be any value realised for shareholders.”

Earlier, chief executive and founder Lawrence Hunt expressed the hope that Silverjet would resume flying, saying: “We are working with new investors prepared to inject new funds so we can recommence operations.” That appears highly unlikely.

Silverjet’s final service flew into Luton this afternoon. Passengers with advance bookings are advised to contact their credit-card company, travel agent or the Civil Aviation Authority, depending on how they made their booking.

Passengers who booked through an agent or travel management company should receive a full refund through the CAA’s consumer protection scheme.

Those who booked direct with Silverjet and paid by credit card should be entitled to a refund, less the first £100 of each transaction. But passengers who paid with a debit or charge card are likely to see nothing.

Share article

View Comments

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.