They were gonna start flights between Bermuda, London Stansted and Wilmington, North Carolina. This is the Bloomberg article about it (the one the stock exchange announcement was in response to).
Silverjet Shares Drop as U.S. Rival Sues Over Plane
Sept. 27 (Bloomberg) -- Silverjet Plc, the trans-Atlantic business-class airline that started flights in January, fell 5.8 percent in Londontrading after a competitor said it sued the U.K. carrier over control of a Boeing Co. 767 airplane.
The stock fell 5 pence to 81.5 pence in the biggest decline since Aug. 8. The shares are down 39 percent this year, giving Silverjet a market value of 36 million pounds ($73 million).
Fort Lauderdale, Florida-based C First Class Corp., owner of FlyFirstClass, said it had a contract with FlyJet Ltd. for the use of a 767-200ER airliner until Silverjet bought FlyJet in November 2006 to take control of the plane, according to the lawsuit filed in federal court in New York.
Luton, England-based Silverjet has suffered recently from delays because of unexpected maintenance work on one of its planes, and Finance DirectorJohn Bavister resigned this month after the airline posted an 18.2 million-pound fiscal-year loss. The carrier said today the lawsuit was ``without merit.''
C First Class gave FlyJet a $750,000 deposit for the 767 and spent $2 million refitting the jet, it said in the lawsuit, which was filed in July and publicized by the company in a press release yesterday.
``Silverjet had agreed to provide alternative 767 ER aircraft, a breakup fee of $1 million and additional compensation to mitigate and ameliorate the harm done to C First Class Corp. but has not honored their agreement,'' Gabrielle Griswold, a C First Class spokeswoman, said in the statement.
Motion to Dismiss
Silverjet will file a motion on Oct. 1 to dismiss the lawsuit, it said today in a statement. Reiterating a Sept. 17 comment, the airline said it ``is of the opinion that the complaint is without merit.''
Silverjet, which is competing with network carriers and other business-class airlines by offering gourmet meals and seats that convert into beds, disclosed the lawsuit in a note in its earningsreport for the year ended March 31. No provision for the suit has been made, the airline said Sept. 17.
FlyFirstClass is planning to operate 767s between Bermuda, London Stansted airport and Wilmington, North Carolina, as soon as it gets government approval, according to its Web site. The company would be the fourth trans-Atlantic business-class-only carrier in operation.
Its planes will fly 90 passengers in first- and business-class seats, with services including individual DVD players and an open bar. An onboard chef will prepare meals such as maple-glazed pork with vanilla bean mashed potatoes and grilled salmon with guava sauce.