Silverjet suspends operations

31 May 2008

UK-based business-class-only airline Silverjet, which began flying daily to Dubai in November, announced yesterday that it had ceased operating. The company said it had yet to receive $5m it had requested under an earlier agreed $100m cash injection from UAE-based Viceroy Holdings. Silverjet said its 'working capital reserves were limited and that advances under the loan facility were required as a matter of urgency'. The company also said in a statement it 'continues to be in discussions with investors interested in supporting the business of Silverjet, however it has yet to conclude such discussions to its satisfaction'.

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