The collapse of Eos, which followed Maxjet’s earlier demise, has left Silverjet as the sole survivor of the trio that have battled to secure a viable business model in the elusive all-premium US-UK market. And the two big questions now are: who will end up owning Silverjet and can they make it work?Silverjet itself announced a couple of weeks ago that it was seeking a new investor – which has yet to emerge. As a public company, EOS’ problems were well-known and any likely Silverjet investor would probably have factored EOS’ failure into its considerations. Even so, nobody has yet bitten. And the share price, famously trashed by a single analyst’s report earlier this year, failed to react even to this latest news of the collapse of the airline’s primary competitor.
Of course investors will also be aware of British Airways’ planned move into the all-premium sector using Airbus A318s from London City Airport next year. I theorised previously that that unexpected move was partly intended to put the frighteners on anyone thinking of propping up Silverjet or Eos, which are major irritants to BA mainline in any case.