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UK Businesses For SaleSilverjet now in administration and ready for a sale
02/06/2008
Silverjet, the UK-based airline which entered administration recently, has already attracted three potential buyers.
Lawrence Hunt, chief executive, and Nigel Atkinson of administrator Begbies Traynor are in talks with all three possible investors. It is thought that Viceroy Holdings, the investment fund behind a failed refinancing deal with Silverjet, could be a bidder. There might also be an offer from a group of Silverjet's former managers who had recently left the airline. The airline was forced to suspend operations at the end of May because an emergency loan did not come through. Silverjet had to tell customers it could not accept their tickets, nor process refunds. Passengers were advised to contact their credit card company or travel agent. Silverjet was launched in 2007, and has not yet made a profit. Recent increases in the price of fuel has created worsening conditions in the competitive airline industry. Other airline companies such as Oasis, Eos and Maxjet have also folded. |
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