Silverjet looks to raise £26m
Silverjet has revealed plans to raise £26m by sellling extra shares in the airline
It said it intends to use the cash for “general working capital purposes”.
The all-business class airlines plans to sell the shares for 180p each, a discount of 3.49% on its Monday closing price.
Silverjet, which launched flights from London Luton to New York Newark in January, said it sold 59% of available seats in March.
It also said forward bookings are “continuing substantially ahead of Board’s initial expectations”.
In July and December Silverjet will add a second daily flight.
“The fundraising is a significant step forward for Silverjet,” said chief executive Lawrence Hunt. “It follows Silverjet’s highly successful launch in January, in which we have demonstrated our ability to deliver on the objectives set out at IPO, including the successful launch of a new airline in just eight months.
“We have been delighted by investor appetite for Silverjet stock in this over-subscribed fundraising, which we believe reflects our ongoing success and the strong prospects for the Company.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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