Posted on November 25th, 2007 in Holiday
The exclusively business class airline Silverjet is being forced to take out a new loan and sell 20 million more shares after it has revealed massive losses over six months.In total, Silverjet is looking to raise £22 million in funding to enable it to continue operations and as well as issuing new shares, it will take out a £10 million loan.
This new need for money comes as the business-only carrier announced its interim results for the six months to the end of September, revealing losses of £13.1 million on revenues of £30.6 million.
The airline currently runs flights from Luton Airport to New York Newark and Dubai, and says the money will keep it on track for its expansion at Luton.
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silverjet
Posted on September 30th, 2007 in Travel advice
Silverjet has vowed to fight a legal action by a US company which claims the airline failed to honour an agreement to provide it with a Boeing 767 aircraft.
In a stock market statement, Silverjet confirmed that it had received a legal complaint from C First Class Corp, but did not disclose details.
“Having taken legal advice, Silverjet remains of the opinion that the complaint is without merit,” said the statement.
C First Class Corp said it had filed a multi-million dollar lawsuit for damages against Silverjet in the New York Federal Court.
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