Silverjet founder admits defeat; administrators don't
17.06.08
Lawrence Hunt, the founder and chief executive of failed Luton Airport airline Silverjet, has abandoned his efforts to save the carrier following the collapse of a rescue deal on Friday. However, the airline's administrators said yesterday that they are still talking to potential buyers.
In a statement issued yesterday, Mr Hunt said : ‘We have decided to draw the line under our efforts to raise additional funding. The investment climate has become too cautious and the economic conditions very difficult. My focus now is to ensure Silverjet is wound up as smoothly as possible.’
However, administrators Begbies Traynor said that they are continuing to talk to parties interested in Silverjet's assets. Joint administrator Nigel Atkinson said that he does not rule out a sale of the carrier as a going concern. But he added: ‘The more time that goes by, the more difficult it will be to reach a sale of any kind. If anything needs to happen, it has to be in the next week, if it happens at all.’
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