17 June 2008

Silverjet boss admits funding defeat

Silverjet boss Lawrence Hunt has conceded defeat in trying to attract new funding for the grounded carrier.

Administrators of the business class only airline admitted on Friday that efforts to secure new investment had failed and all staff had to be made redundant.

The Luton-based airline had ceased operations the previous week after promised additional funding failed to materialise.

Hunt said today: ââ¬ÅâœIt is with great sadness that we have decided to draw a line under our efforts to raise additional funding for Silverjet.

ââ¬ÅâœAs you know, we have been battling for months to gain the additional investment we need to reach critical mass. 

ââ¬ÅâœIn the end, the investment climate has become too cautious and the economic conditions very difficult for us gain the scale we needed.ââ¬~

He added: ââ¬ÅâœMy focus now is to ensure that Silverjet is wound up as smoothly as possible and to ensure our amazing team of people find new jobs as quickly as possible.ââ¬~

by Phil Davies

• PRINT
• SEND TO A FRIEND
• SHARE

Post your comment

Your Comments

, be the first to post a comment.
Your email:

Your comment title:


Your comment:

Email other comments made to this story

5 characters