SilverJet (Merged 30/05)
Join Date: Aug 2004
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Nato 35: Your offer is tempting but I prefer to put my money on the stockmarket. If you can pick the winner then you can double your money. They also say the darkest hour is just before dawn. If the billionair brothers who are loaning Silverjet £10 million also bought up maxjet then a quick merger would get a airline with citical mass quite quickly.
Join Date: Jul 2005
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Join Date: Oct 2006
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Share Prices
Interesting to see that the share price seems to have dropped today to an all time low of 59.00. Does anyone know how much lower they can go before they do a Maxjet? How do they stand now if they are offering more shares at 60.00?
Join Date: Jun 2006
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Transwede
The name on the AOC can be checked out at the following link;
http://www.caa.co.uk/docs/1196/AOCListD_M_20071129.pdf
It still appears to be Flyjet Limited trading as Silverjet
Its unusual for more than one operator to carry the same 'trading as' name as it creates confusion for the regulator but I believe it may have been done in the past, probalby with the various airlines that comprised the BA Regional operation - or something similar.
A single AOC can carry mutliple 'trading as' names i.e. ABC Airlines Ltd trading as XYZ Air also trading as PQR Aviation
The key in the AOC is not the name it trades under but the accountability to the regulator and the beneficial interest in the contract of carriage i.e. who coughs up or stands in the dock when it all goes wrong.
The name on the AOC can be checked out at the following link;
http://www.caa.co.uk/docs/1196/AOCListD_M_20071129.pdf
It still appears to be Flyjet Limited trading as Silverjet
Its unusual for more than one operator to carry the same 'trading as' name as it creates confusion for the regulator but I believe it may have been done in the past, probalby with the various airlines that comprised the BA Regional operation - or something similar.
A single AOC can carry mutliple 'trading as' names i.e. ABC Airlines Ltd trading as XYZ Air also trading as PQR Aviation
The key in the AOC is not the name it trades under but the accountability to the regulator and the beneficial interest in the contract of carriage i.e. who coughs up or stands in the dock when it all goes wrong.
Join Date: Mar 2007
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A massive effect. I would be surprised if the airline didn't aquire some of the 762s from MaxJet.
Would like to see LAX and LAS from LTN sson. Would definately be worth the trip down south to take LTN-LAX then LAX-LAS with Jetblue business and home again with Silverjet on LAS-LTN!
I think I have my summer holiday next year sorted!
Would like to see LAX and LAS from LTN sson. Would definately be worth the trip down south to take LTN-LAX then LAX-LAS with Jetblue business and home again with Silverjet on LAS-LTN!
I think I have my summer holiday next year sorted!
Join Date: Nov 2006
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If would like to travel to LAX with Silverjet then you might be interested to know that it is a top runner for Silverjet's next route and they are currently advertising for a sales manager in Los Angeles.
Join Date: Oct 2006
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Serious question
Quote from the FT web site
"Silverjet (SIL:LSE) set a new 52-week low during today's trading session when it reached 54.00. Over this period, the share price is down 59.55%."
How much lower can the price go before they are in trouble?
"Silverjet (SIL:LSE) set a new 52-week low during today's trading session when it reached 54.00. Over this period, the share price is down 59.55%."
How much lower can the price go before they are in trouble?
Join Date: Aug 2004
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The share price does not matter much unless you wish to raise more cash. You issue new shares to sell when more cash is needed. This does not work if the existing shares are worthless. The shareprice matters in 6-9 months when they need more money. In fact it may be better to dive a bit more and then climb to give the impression all is well.
A lot is outside the airline control now.
A lot is outside the airline control now.
December stats
Load factor 53%, but yields "ahead of expectations".
They seem to have benefited from Maxjet's demise, having picked up 800 bookings. They claim fuel costs per sector 23% lower than Maxjet (but generally shorter sectors), and yields 50% above Maxjet.
In an interview with the Telegraph, the CEO talks about new destinations from June, and mentions Delhi, Johannesburg and other US cities.
Share price 54p, unchanged.
They seem to have benefited from Maxjet's demise, having picked up 800 bookings. They claim fuel costs per sector 23% lower than Maxjet (but generally shorter sectors), and yields 50% above Maxjet.
In an interview with the Telegraph, the CEO talks about new destinations from June, and mentions Delhi, Johannesburg and other US cities.
Share price 54p, unchanged.
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Silverjet say "ahead of expectations" everytime but never publish any expectations.
The gained 780 Pax in December as if was the first full month for the dubai ops. They have added a lot of sectors (now 156 from 135 in November). We will have to wait till the CAA data comes out to see how many of the 780 extra PAX were added to each route.
The airline is trying to claim that it will be profitable but keeps asking shareholders for more cash which is used to cover operating cost.
They are desperate to riase cash so you should not trust anything they say.
The gained 780 Pax in December as if was the first full month for the dubai ops. They have added a lot of sectors (now 156 from 135 in November). We will have to wait till the CAA data comes out to see how many of the 780 extra PAX were added to each route.
The airline is trying to claim that it will be profitable but keeps asking shareholders for more cash which is used to cover operating cost.
They are desperate to riase cash so you should not trust anything they say.
Apparently "expectation" was a 65% load factor. They achieved 53% - a long way below their hopes. But the strife elsewhere (threatened BAA strikes, Virgin strike, Maxjet) may benefit them in January.
As they are a public company, misleading investors or potential investors is a criminal offence, as I'm sure the Directors are aware. So I actually do believe what they say, I tend to look for what they don't say....
As they are a public company, misleading investors or potential investors is a criminal offence, as I'm sure the Directors are aware. So I actually do believe what they say, I tend to look for what they don't say....
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misleading investors seems to be standard for the boss of failing firms. The key is how they avoid saying things that can be proved to be untrue.
Silverjet claim fuel costs per sector 23% lower than Maxjet. This may be true but out of context is very misleading. If they average Maxjet sector length was around 23% longer then it down right misleading but unfortunatly not criminal. Silverjet give out lots of "facts" which are misleading and others that we cannot check until the accounts come out.
look at what maxjet said 1 month before its shares were suspended and see how misleading statements can be:-
Silverjet claim fuel costs per sector 23% lower than Maxjet. This may be true but out of context is very misleading. If they average Maxjet sector length was around 23% longer then it down right misleading but unfortunatly not criminal. Silverjet give out lots of "facts" which are misleading and others that we cannot check until the accounts come out.
look at what maxjet said 1 month before its shares were suspended and see how misleading statements can be:-
* 71.5% revenue load factor (10,538 passengers), a 4pp increase
year-over-year * 123% passenger increase year-over-year on a 112% increase in available
seats * Fifth aircraft entered revenue service on 5 October 2007 providing an
operational spare * New Saturday service to New York commenced 20 October 2007 * New Las Vegas and Los Angeles frequencies commence in December
October 2007
MAXjet's systemwide load factor in October was 71.5%, a year-over-year increase of 4 percentage points. Revenue passengers increased from 4,728 in October 2006 to 10,538 in October 2007, an increase of 123%.
year-over-year * 123% passenger increase year-over-year on a 112% increase in available
seats * Fifth aircraft entered revenue service on 5 October 2007 providing an
operational spare * New Saturday service to New York commenced 20 October 2007 * New Las Vegas and Los Angeles frequencies commence in December
October 2007
MAXjet's systemwide load factor in October was 71.5%, a year-over-year increase of 4 percentage points. Revenue passengers increased from 4,728 in October 2006 to 10,538 in October 2007, an increase of 123%.
Bill Stockbridge, CEO of MAXjet commented:
"I am particularly pleased with our strong system-wide load factors given that the Los Angeles route has only now been operating for two months. This demonstrates both the underlying momentum in our network and the strong customer traction we are already achieving from both business and leisure customers between London and Los Angeles."
"I am particularly pleased with our strong system-wide load factors given that the Los Angeles route has only now been operating for two months. This demonstrates both the underlying momentum in our network and the strong customer traction we are already achieving from both business and leisure customers between London and Los Angeles."
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Watching Silverjet is like seeing an action replay of Maxjet. The only data the shareholders get is how full the planes are each month. Cutting prices by 20% needs to raise the load factor by 25% to take the same revenue. They then face higher costs to support the extra paxs. If you only get 15% more passengers then you just make your loss bigger.
When the airline stated it needed about 65% load factor to break even at operating level with an oil price of $50/barrel and a return trip at £999. With oil at $100/barrel and fares around £879 return the planes need to be very full just to cover the operating costs. Even the departure tax has doubled which will upset the model.
When the airline stated it needed about 65% load factor to break even at operating level with an oil price of $50/barrel and a return trip at £999. With oil at $100/barrel and fares around £879 return the planes need to be very full just to cover the operating costs. Even the departure tax has doubled which will upset the model.
Join Date: Jan 2003
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I see that Silverjet are now discounting fares by up to 20%!