Silverjet’s administrator Begbies Traynor confirms that it has received “certainly two” offers for the business-only airline, which stopped services last week following the collapse of an investment deal with Viceroy Holdings.
Former Silverjet CEO Lawrence Hunt is reported to have teamed up with a Swiss investment company Heritage Cie to bid for the airline, but they have a rival. Joint administrator for Begbies Traynor, Mark Fry, said: "They are up against a very serious bidder. We are in talks and terms are being discussed." This second suitor is rumoured to be an airline. Fry added: “We are confident of achieving a sale given the attractions of the Company. Silverjet’s increasingly strong operational performance, award-winning customer service, and positioning as the last business class-only transatlantic airline operator, underpin its potential given adequate funding. “We are looking for a certain amount that will go to the old company's creditors."
A number of interested parties contacted the administrators after Silverjet’s collapse, and it is not known how much the bidders are offering - but whatever the value, an additional sum of around £10m ($19.5m) is believed to be needed to restart the airline’s operations. Viceroy had planned to inject an initial $25m plus further sums of up to $75m to expand the airline’s operations in the Middle East and into Asia and Africa.Hunt said when announcing Silverjet’s demise last week: “We are working actively with new investors who are prepared to inject new funds so we can recommence operations. “If we are able to achieve this, we will make an announcement as soon as possible and we hope to be able to bring you our very 'civilised' flying experience again.” It would prove a remarkable comeback for what many believed to be a doomed operation in a period of sky-high fuel prices, increasing transatlantic competition and an economic downturn.
He who laughs last obviously has'nt heard the bad news.