SilverJet (Merged 30/05)
Join Date: Jan 2002
Location: the jungle
Posts: 100
Likes: 0
Received 0 Likes
on
0 Posts
F.A.O. 8CHE and anyone else who would like to add, could I have your comments on the attached info
Thanks ML
C First Class Corp.: Startup SilverJet Airlines Sued in Multimillion Dollar Lawsuit
NEW YORK, September 26 /PRNewswire/ --
SilverJet, the startup UK all business service airline, is being sued for damages in a multimillion dollar lawsuit. The case was filed by C First Class Corp., a US holding company, in the United States Federal District Court of the Southern District of New York. Multiple counts against SilverJet include tortious interference and unjust enrichment claims.
According to the complaint, C First Class Corp. held an executed contract with air carrier FlyJet Limited of the UK for the use of a dedicated 767-200ER aircraft and operation of an international charter programme.
In November 2006, SilverJet acquired FlyJet Limited. The purpose for SilverJet's acquisition, was to take control of the 767 aircraft contracted to C First Class, crucial if SilverJet was to be operational in time for the company's launch date deadline of Jan. 25, 2007 and to satisfy goals promised to investors and shareholders. SilverJet subsequently appropriated the dedicated 767 aircraft for its own purposes including a deposit of US$750,000 in direct violation and malicious disregard of all C First Class rights.
Shortly thereafter, the dedicated C First Class 767 aircraft served as SilverJet's launch aircraft for international flights between London, Luton and New York, Newark airports and continues to provide essential service and profit for SilverJet on those routes.
"SilverJet had agreed to provide alternative 767 ER aircraft, a break up fee of US$1 million and additional compensation to mitigate and ameliorate the harm done to C First Class Corp. but has not honoured their agreement," said spokesperson Gabrielle Griswold for C First Class. "The filing of our lawsuit is in direct response to the dismissive and arrogant attitude of SilverJet leadership, their obvious disregard in honouring commitments."
Companies listed and traded on the London Stock exchange, in compliance with AIM Rule 26, must disclose all relevant information that could impact share value. Yet " SilverJet has not made any disclosures regarding this matter," confirmed C First Class.
C First Class Corp. a US company, has filed a multimillion dollar lawsuit for damages against startup, all business class SilverJet Airlines in New York Federal Court. The lawsuit includes charges of Unjust Enrichment, Tortiuous Interference with a Business Relationship and Tortiuous Interference with Contract. SilverJet appropriated the use of 767 aircraft, key to the successful launch and continued operation of their international service, without agreement and in direct violation of existing rights of C First Class Corp.
For additional information please refer to case Number 07 CIV 6371 filed in United States District Court of the Southern District of New York.
Distributed by PR Newswire on behalf of C First Class Corp.
Thanks ML
C First Class Corp.: Startup SilverJet Airlines Sued in Multimillion Dollar Lawsuit
NEW YORK, September 26 /PRNewswire/ --
SilverJet, the startup UK all business service airline, is being sued for damages in a multimillion dollar lawsuit. The case was filed by C First Class Corp., a US holding company, in the United States Federal District Court of the Southern District of New York. Multiple counts against SilverJet include tortious interference and unjust enrichment claims.
According to the complaint, C First Class Corp. held an executed contract with air carrier FlyJet Limited of the UK for the use of a dedicated 767-200ER aircraft and operation of an international charter programme.
In November 2006, SilverJet acquired FlyJet Limited. The purpose for SilverJet's acquisition, was to take control of the 767 aircraft contracted to C First Class, crucial if SilverJet was to be operational in time for the company's launch date deadline of Jan. 25, 2007 and to satisfy goals promised to investors and shareholders. SilverJet subsequently appropriated the dedicated 767 aircraft for its own purposes including a deposit of US$750,000 in direct violation and malicious disregard of all C First Class rights.
Shortly thereafter, the dedicated C First Class 767 aircraft served as SilverJet's launch aircraft for international flights between London, Luton and New York, Newark airports and continues to provide essential service and profit for SilverJet on those routes.
"SilverJet had agreed to provide alternative 767 ER aircraft, a break up fee of US$1 million and additional compensation to mitigate and ameliorate the harm done to C First Class Corp. but has not honoured their agreement," said spokesperson Gabrielle Griswold for C First Class. "The filing of our lawsuit is in direct response to the dismissive and arrogant attitude of SilverJet leadership, their obvious disregard in honouring commitments."
Companies listed and traded on the London Stock exchange, in compliance with AIM Rule 26, must disclose all relevant information that could impact share value. Yet " SilverJet has not made any disclosures regarding this matter," confirmed C First Class.
C First Class Corp. a US company, has filed a multimillion dollar lawsuit for damages against startup, all business class SilverJet Airlines in New York Federal Court. The lawsuit includes charges of Unjust Enrichment, Tortiuous Interference with a Business Relationship and Tortiuous Interference with Contract. SilverJet appropriated the use of 767 aircraft, key to the successful launch and continued operation of their international service, without agreement and in direct violation of existing rights of C First Class Corp.
For additional information please refer to case Number 07 CIV 6371 filed in United States District Court of the Southern District of New York.
Distributed by PR Newswire on behalf of C First Class Corp.
Join Date: Mar 2004
Location: Dorset
Posts: 677
Likes: 0
Received 0 Likes
on
0 Posts
They issued a stock market statement about this - on the day after the above story appeared on Bloomberg. Check their stock market statements on their website for 27 September. They have done the corporate governance bit here, if perhaps a little later than they should.
Join Date: Feb 2008
Location: Birmingham
Posts: 19
Likes: 0
Received 0 Likes
on
0 Posts
While in manchester i was talking to a silverjet crew member last week
They said the new route from july i think is LA
They also said they were ordering 787;s
Then another new route in 3 weeks.
They said the new route from july i think is LA
They also said they were ordering 787;s
Then another new route in 3 weeks.
Are the two 767 from Thomson already beeing fitted out or will this be delayed to be done just in time for July?
The shares are at a record low last Friday. Those who have faith in Silverjet should be buying up shares. The oil price could fall sharply very soon to allow the airline profitable ahead of time.
Join Date: Apr 2005
Location: up above
Posts: 150
Likes: 0
Received 0 Likes
on
0 Posts
The LA and the 787 are what he told me, whether its true is anyones guess
I hope its true id hate anyone to lose there jobs,
been thru it and its not nice.
Good luck to them..
I hope its true id hate anyone to lose there jobs,
been thru it and its not nice.
Good luck to them..
Join Date: Oct 2006
Location: 40,000 feet
Posts: 87
Likes: 0
Received 0 Likes
on
0 Posts
Thanks Diesel...
Thanks for your sentiments... With press coverage, stock prices etc, Silverjet is taking a barrage of negativity at the moment. The impact it can have on all of us who work for the company, can be quite strong...
Thankfully we do have a great number of dedicated staff who still believe that we can push through the growing pains, and see the 'Silver Lining' in the cloud...
There has been constant speculation regarding our new routes, new aircraft etc... Still to this day nothing is set in stone. Our directors, sales team, security team etc are spending great amounts of time throughout many destinations in the world.
From our very concept, Silverjet has always mentioned routes including West Coast America, India, South Africa and even the Far East, however the practicalities (as I am sure you are more than aware) are very complicated.
Take our Dubai Route for example - our main condition for flying there is that we can offer our customers similar facilities to what we provide at our private terminal at LTN. Hence... We arrive at the private Jet terminal, with a dedicated lounge and dedicated check in.
When researching a new destination, it is factors such as these that have to be taken into account.
G-BYAA and G-BYAB if not already signed over (I admit, I am not completely up to date with current events) are expected very soon, to be re-registered as G-SILA and G-SILB. They of course have to go through the mandatory maintenance checks, and then a full cabin refit (which includes a complete reinforcement of the cabin floor, purely to hold the weight of the Sicma Aeroseat which we have on board... 102 of them on this specification of aircraft...) The aircraft then have to be repainted in our livery. Whilst all of our aircraft are designed in the same way, each one has their own individual touches inside the cabin, which add to our customers onboard experience.
Using 787's, whilst a very appealing thought, is probably not appropriate at the moment... (especially considering the latest findings with them!)
The 767 fits our requirements, and whilst finding newer aircraft can be taxing, we are constantly on the hunt...
Announcements will be made in the very near future, and as the financial year is drawing to a close, I believe we have to instill faith in our investors, and any potential investors who may see us of interest.
As many of my colleagues have said, watch this space. I believe the adage that there "is no such thing as bad press", may be prevalent to this situation...
Our cabin crew are very excited about the announcements of new destinations, and speculation is rife... All I would ask, to anyone who reads this, is please bare with us...
I will now bow out, and head back to the cabin where I belong...
Safe and Happy flying to you all!
BoB...
Thankfully we do have a great number of dedicated staff who still believe that we can push through the growing pains, and see the 'Silver Lining' in the cloud...
There has been constant speculation regarding our new routes, new aircraft etc... Still to this day nothing is set in stone. Our directors, sales team, security team etc are spending great amounts of time throughout many destinations in the world.
From our very concept, Silverjet has always mentioned routes including West Coast America, India, South Africa and even the Far East, however the practicalities (as I am sure you are more than aware) are very complicated.
Take our Dubai Route for example - our main condition for flying there is that we can offer our customers similar facilities to what we provide at our private terminal at LTN. Hence... We arrive at the private Jet terminal, with a dedicated lounge and dedicated check in.
When researching a new destination, it is factors such as these that have to be taken into account.
G-BYAA and G-BYAB if not already signed over (I admit, I am not completely up to date with current events) are expected very soon, to be re-registered as G-SILA and G-SILB. They of course have to go through the mandatory maintenance checks, and then a full cabin refit (which includes a complete reinforcement of the cabin floor, purely to hold the weight of the Sicma Aeroseat which we have on board... 102 of them on this specification of aircraft...) The aircraft then have to be repainted in our livery. Whilst all of our aircraft are designed in the same way, each one has their own individual touches inside the cabin, which add to our customers onboard experience.
Using 787's, whilst a very appealing thought, is probably not appropriate at the moment... (especially considering the latest findings with them!)
The 767 fits our requirements, and whilst finding newer aircraft can be taxing, we are constantly on the hunt...
Announcements will be made in the very near future, and as the financial year is drawing to a close, I believe we have to instill faith in our investors, and any potential investors who may see us of interest.
As many of my colleagues have said, watch this space. I believe the adage that there "is no such thing as bad press", may be prevalent to this situation...
Our cabin crew are very excited about the announcements of new destinations, and speculation is rife... All I would ask, to anyone who reads this, is please bare with us...
I will now bow out, and head back to the cabin where I belong...
Safe and Happy flying to you all!
BoB...
Join Date: Jan 2005
Location: Not so many places currently
Age: 60
Posts: 3,801
Likes: 0
Received 0 Likes
on
0 Posts
Dubai
I wonder if increased interest has generated increased bookings?
http://www.arabianbusiness.com/index...temid=77&ln=en
http://www.arabianbusiness.com/index...temid=77&ln=en
Join Date: Feb 2008
Location: Birmingham
Posts: 19
Likes: 0
Received 0 Likes
on
0 Posts
Dubai
what is going on with Dubai flights today?
They seem to be 12 hours behind.
How does T5 mess show up on increased bookings?
maybe Silverjet should take Big ads out near heathrow.
They seem to be 12 hours behind.
How does T5 mess show up on increased bookings?
maybe Silverjet should take Big ads out near heathrow.
Join Date: Mar 2008
Location: Outside the EU on a small Island
Age: 79
Posts: 529
Likes: 0
Received 0 Likes
on
0 Posts
Good luck, to all at Silverjet.
I always wanted to use you, but you never flew to IAD.
Mind you, MaxJet did, and I did, and look what happened to them.
I firmly believe there is commercial value in an independent IAD carrier from UK in this category.
Now I'm stuck with BA or Virgin ....
I always wanted to use you, but you never flew to IAD.
Mind you, MaxJet did, and I did, and look what happened to them.
I firmly believe there is commercial value in an independent IAD carrier from UK in this category.
Now I'm stuck with BA or Virgin ....
Join Date: Feb 2008
Location: Birmingham
Posts: 19
Likes: 0
Received 0 Likes
on
0 Posts
March Update
They have had a big rise in Pax, now carrying over 10,000 a month.
The load factor has shot up to 65% even though there is less business travel over easter according to Mr Hunt.
I was keen to know were we can go next on Silverjet but no word yet.
The load factor has shot up to 65% even though there is less business travel over easter according to Mr Hunt.
I was keen to know were we can go next on Silverjet but no word yet.
Join Date: Dec 2006
Location: Buckinghamshire
Posts: 297
Likes: 0
Received 0 Likes
on
0 Posts
"Although Silverjet didn't generate an operating profit and was not cash
generative in March, excluding the discontinued Flyjet operations it did record
both the largest ever gross profit and the smallest operating loss since we
started flying multiple aircraft, despite a further material increase in our
fuel costs. This is solid progress towards our objective of becoming profitable
as quickly as possible in a difficult market."
As a shareholder I was unimpressed by this statement. I would like to see where Silverjet will lay it's hat next in order to make the airline profitable and I start seeing a return in equity
generative in March, excluding the discontinued Flyjet operations it did record
both the largest ever gross profit and the smallest operating loss since we
started flying multiple aircraft, despite a further material increase in our
fuel costs. This is solid progress towards our objective of becoming profitable
as quickly as possible in a difficult market."
As a shareholder I was unimpressed by this statement. I would like to see where Silverjet will lay it's hat next in order to make the airline profitable and I start seeing a return in equity
Join Date: Oct 2006
Location: southern spain
Posts: 1,987
Likes: 0
Received 0 Likes
on
0 Posts
atmosphere
Surely atmosphere you did not expect a return on your investment in the first two years of investing in a new airline. Either you had bad advice or are naive or both. No airline to my knowledge makes a profit initially due to extensive start-up costs.
The March figures to me do not look too bad, the load factor was good with Easter not being a particularly good time for business travel. Keep the faith and let is all hope that you get a return on your investment and the airline becomes profitable as soon as possible – but you will have to be patient.
The March figures to me do not look too bad, the load factor was good with Easter not being a particularly good time for business travel. Keep the faith and let is all hope that you get a return on your investment and the airline becomes profitable as soon as possible – but you will have to be patient.
Join Date: Mar 2004
Location: Dorset
Posts: 677
Likes: 0
Received 0 Likes
on
0 Posts
Atmosphere had every right to expect Silverjet to make a profit in March. The CEO had previously given guidance to the stock market to say that it would. The fact that it didn't merely underlines the point that they are now well and truly out of favour with the City - you only make statements like that if you're 110% sure that you can achieve it. They haven't and so this will be another hit to their credibility in investor circles.
The loadfactor figures are also not a direct indication of profitability. You can have 100% loadfactor and still lose money. Ask BCal - they did it for years on Gatwick/JFK.
The loadfactor figures are also not a direct indication of profitability. You can have 100% loadfactor and still lose money. Ask BCal - they did it for years on Gatwick/JFK.
Join Date: Jun 2002
Location: Midlands
Posts: 42
Likes: 0
Received 0 Likes
on
0 Posts
Id Say the way Silverjet is going there will be profit next month
The New routes (if you believe the crew room gossip) sound very exciting and I will enjoy flying to and exploring the destinations.
All is well and Silverjet is doing very well so bring on a very busy and profitable Summer.
ops!
The New routes (if you believe the crew room gossip) sound very exciting and I will enjoy flying to and exploring the destinations.
All is well and Silverjet is doing very well so bring on a very busy and profitable Summer.
ops!
Last edited by Ops! I did it again; 3rd Apr 2008 at 09:29.
Join Date: Jan 2006
Location: Somewhere
Posts: 33
Likes: 0
Received 0 Likes
on
0 Posts
Here here!!! The busier the better alot of the crew like quiet flights but at the end of the day its job saftey that people should be thinking about. I mean if you have 102 customers onboard (fair enough youre gonna be busy) but who cares. Ya get off at the other end and with the summer coming we will all be basking in sunshine at all of our destinations. I have no time for people who moan about the work.
Join Date: Sep 2006
Location: Wherever Carmen says...
Posts: 274
Likes: 0
Received 0 Likes
on
0 Posts
Thomsonfly 767-200's
We've had a communication from our training department that anyone who had not yet taken their yearly SEP's to revise the B762 opposed to previous information not too, as they are not now leaving the fleet...
SJ may get one and still operate a new route and we may be keeping one for the time being. Or we may keep both.
But SJ are not getting two... that or were buying/leasing another 762 from someone else-unlikely.
SJ may get one and still operate a new route and we may be keeping one for the time being. Or we may keep both.
But SJ are not getting two... that or were buying/leasing another 762 from someone else-unlikely.
Last edited by BlueTui; 4th Apr 2008 at 11:03.
Join Date: Jan 2003
Location: Hitchin
Posts: 1,405
Likes: 0
Received 0 Likes
on
0 Posts
Interesting. Well I think it was G-BYAA/AB, that were the two aircraft meant to be going to Silverjet. Currently, only one, AA, is shown as "Potential Change of Registered Ownership in progress", and of course, it might not be to SJ anyway.
On a good note, both of today's flights to EWR seem to be sold out.
On a good note, both of today's flights to EWR seem to be sold out.