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Hunt hopes for Silverjet rescue

Silverjet founder Lawrence Hunt believes the failed carrier could resume flying after a securing a bid from unnamed investors.

The all-business airline collapsed last Friday and is now the hands of administrator Begbies Traynor.

The Silverjet chief executive revealed he has been working on a deal with a Swiss-based management company, Heritage, and the Irish-registered trust it manages – Kingplace – on behalf of “private clients”. The bid is now with the administrator.

Hunt told Travel Weekly: “We are working on a rescue.” Begbies Traynor said it was talking with several investors with a view to “reviving Silverjet as a going concern”. But lead administrator Nigel Atkinson said: “There is a long way to go.”

Any deal would need the agreement of the UK’s Civil Aviation Authority and must comply with restrictions on foreign ownership.

Silverjet operated daily business-class flights from Luton to New York and Dubai. It ceased flying after failing to secure an emergency loan to cover continuing losses due to the high oil price.

 

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