SilverJet (Merged 30/05)
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The website says 45% load factor excludes promotional and discounted fares so the total pax carried actually gives a load factor of about 57%.Of these, some 12% would appear to at discounted fares. 45% is based on non discounted fares.
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Fear not, lostinBRU, you may be a simple soul but you are also correct.
The original Silverjet press release says that they achieved a 45% load factor excluding passengers on promotional or discounted fares.
45% of 5100 = 2295, so of their 2911 passengers, 2911-2295 = 616 were freebies, journalists, travel agents on fam trips, other airline staff on special interline deals etc. Seems about normal especially for the first month of a new service.
Thus total load factor = 57%, revenue load factor (a better measure of how many seats they actually sold) = 45%
The original Silverjet press release says that they achieved a 45% load factor excluding passengers on promotional or discounted fares.
45% of 5100 = 2295, so of their 2911 passengers, 2911-2295 = 616 were freebies, journalists, travel agents on fam trips, other airline staff on special interline deals etc. Seems about normal especially for the first month of a new service.
Thus total load factor = 57%, revenue load factor (a better measure of how many seats they actually sold) = 45%
Last edited by Cyrano; 1st Mar 2007 at 13:02. Reason: (oops, powerjet1, you beat me to it!)
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Just returned from a very quick trip to NYC with Silverjet and wanted to congratulate the whole team on an excellant product.
I wish you all every success in the future and well done.
I wish you all every success in the future and well done.
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I understand that a recent flight back from NYC was cancelled and the passengers returned Virgin pleb class?
I wonder if Level bust had enough leg room with Silverjet?
I wonder if Level bust had enough leg room with Silverjet?
Join Date: Jan 2007
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This article appears in tonight's London Evening Standard:
BUSINESS class-only carrier Silverjet has come back to investors for another £25 million just 10 weeks after the launch of its daily transatlantic services between Luton and New York.
Silverjet raised £25 million at its flotation ten months ago but since then has incurred around £21 million of extra costs that it had not envisaged but which should save it money in the longer term.
The carrier founded and led by Lawrence Hunt, a scion of the Foyles bookshop family, said today it is raising just short of £25 million after expenses with the placing of nearly 14.5 million shares at 180p, a discount to last night's closing price.
The shares today increased 31/2p to 190p, more than 50% higher than where they started last summer after Hunt said Silverjet is expected to smash City expectations this year following a far better-than-expected launch.
Figures from the carrier today showed its 100-seater specially-customised Boeing 767s and 757s flew 59% full in March, close to financial breakeven and a stunning start for a fledgling airline using an unproven business model of flying business class-only and up against two American rivals Eos and Maxjet, which launched in the market first.
'We are delighted by the investor appetite for Silverjet stock which we believe reflects our ongoing success and strong prospects,' said Hunt.
The extra costs have come through the acquisition aircraft leases - when it previously expected to hire aircraft - and the refurbishment of its own lounge at Luton airport rather than piggybacking another airline's facilities.
BUSINESS class-only carrier Silverjet has come back to investors for another £25 million just 10 weeks after the launch of its daily transatlantic services between Luton and New York.
Silverjet raised £25 million at its flotation ten months ago but since then has incurred around £21 million of extra costs that it had not envisaged but which should save it money in the longer term.
The carrier founded and led by Lawrence Hunt, a scion of the Foyles bookshop family, said today it is raising just short of £25 million after expenses with the placing of nearly 14.5 million shares at 180p, a discount to last night's closing price.
The shares today increased 31/2p to 190p, more than 50% higher than where they started last summer after Hunt said Silverjet is expected to smash City expectations this year following a far better-than-expected launch.
Figures from the carrier today showed its 100-seater specially-customised Boeing 767s and 757s flew 59% full in March, close to financial breakeven and a stunning start for a fledgling airline using an unproven business model of flying business class-only and up against two American rivals Eos and Maxjet, which launched in the market first.
'We are delighted by the investor appetite for Silverjet stock which we believe reflects our ongoing success and strong prospects,' said Hunt.
The extra costs have come through the acquisition aircraft leases - when it previously expected to hire aircraft - and the refurbishment of its own lounge at Luton airport rather than piggybacking another airline's facilities.
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As reported today:
Silverjet the all business-class airline, has taken delivery of its second aircraft which will begin operating on the carrier's London Luton to New York Newark Airport route this summer.
The airline began daily flights to New York at the end of January this year, offering a business class product for lower prices than full-service airlines.
It now plans to add a second daily return service using the new Boeing 767-200 aircraft, which it will equip with 100 six-foot three-inch long beds.
"We are delighted to announce the delivery of our second aircraft as we build on the success of our first 100 days of operations," said the airline's chief executive Lawrence Hunt.
"We have again demonstrated our ability to deliver on the objectives set out at the IPO and have been taking bookings since December 2006 for our second daily return service to Newark New York which will launch on 2 July 2007 from our private terminal facility at London Luton Airport."
Having a private terminal at Luton means that check-in times for Silverjet flights are cut to 30 minutes (for those with only carry-on baggage).
Silverjet the all business-class airline, has taken delivery of its second aircraft which will begin operating on the carrier's London Luton to New York Newark Airport route this summer.
The airline began daily flights to New York at the end of January this year, offering a business class product for lower prices than full-service airlines.
It now plans to add a second daily return service using the new Boeing 767-200 aircraft, which it will equip with 100 six-foot three-inch long beds.
"We are delighted to announce the delivery of our second aircraft as we build on the success of our first 100 days of operations," said the airline's chief executive Lawrence Hunt.
"We have again demonstrated our ability to deliver on the objectives set out at the IPO and have been taking bookings since December 2006 for our second daily return service to Newark New York which will launch on 2 July 2007 from our private terminal facility at London Luton Airport."
Having a private terminal at Luton means that check-in times for Silverjet flights are cut to 30 minutes (for those with only carry-on baggage).
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Noticed on another website that the airline is advertising for cabin crew etc, but with interviews only taking place in the Middle East. Assume this relates to Silverjet's rumoured eastern expansion to Dubai, Bangkok & Beijing.
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Still no mention of Flyjet and their replacement a/c for the winter, or indeed any possibilities of new charter contracts to occupy the aircraft, if replacements were found!!!!
Its a bit premature I know, but RIP Flyjet
(Silverjet management, you'll regret loosing FJE, it has potential and the crews are some of the most flexible, adaptable and energetic in the industry - just think before you make the last decision!).
Its a bit premature I know, but RIP Flyjet
(Silverjet management, you'll regret loosing FJE, it has potential and the crews are some of the most flexible, adaptable and energetic in the industry - just think before you make the last decision!).
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Do you know where then? dont tell me Boston or washington
as I think Maxjet are going to announce Boston soon and they
are about to re-star Washington.
We need some west coast links.
as I think Maxjet are going to announce Boston soon and they
are about to re-star Washington.
We need some west coast links.