Silverjet suspends operations

3 September 2009

Silverjet announced on 23 May 2008 that it had yet to receive the proceeds of the US$5.0 million drawdown request made under its loan facility with Viceroy Holdings LLC. It also announced that its working capital reserves were limited and that advances under the loan facility were required as a matter of urgency.

Silverjet has not received any further sums from Viceroy and 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.

The Board of Silverjet has therefore decided that it must suspend operations with immediate effect. The last service of Silverjet was the flight from Dubai to London Luton, which departed at 7.30 am (BST) on May 30.

Information for customers is available on Silverjet’s website, Customers should seek refunds of unused segments of tickets from the point of purchase (ie credit card or travel agency).

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