New capital finally gets Silverjet stock moving

Even the demise of both its head-to-head competitors failed to shift the ailing shares of UK-US all-premium carrier Silverjet – but this morning it announced a MoU with an unidentified UAE investor and at time of writing the stock is 19% up on the day.

If confirmed, the deal will provide about $8 million in equity, and a debt portion taking the value to $25 million. Silverjet says the investor’s “intent” is to provide another $75 million and expand routes into the Middle East, Far East and Africa.

Of course the stock is down 92% on a year ago!

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