Groups considering Silverjet purchase
01.06.08
When the Luton Airport based all business class airline Silverjet grounded its flights on Friday after failing to attract new investment, we thought it was the end of the line. Not so according to the Times. Administrators are negotiating with a number of potential buyers in the hope of selling the company early this week, the newspaper reports.
'Airline-industry sources' told the Times that Viceroy Holdings, the Middle East based luxury investment fund behind the abortive refinancing deal, might be a bidder. There is also thought to be an offer from a group of former managers who recently left the airline.
Begbies Traynor, the restructuring specialists, were appointed as administrators on Friday. An important role will be played by the Reuben brothers, the property tycoons who are Silverjet’s senior creditors after advancing it a £10m loan just last November, the Times adds.
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