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Silverjet airline goes under

31 May 2008

Silverjet has become the third business-class-only airline flying between London and New York to collapse, after failing to get an emergency $5 million (2.5 million pound) loan.

The company, launched at the start of 2007, on Friday called in administrators, grounded its fleet and said it did not believe there was likely to be any value realised for shareholders.

Sky-rocketing fuel prices and worsening economic conditions in Britain and the United States have buffeted Silverjet, having already sent rivals Eos and MAXJet out of business.

source: Reuters

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