SilverJet (Merged 30/05)
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Silverjet problems as well
Silverjet seem to be having their own problems. The flight to Newark at 18:00 has been Cancelled and yesterdays Luton to Dubai is expected to depart at noon today. Is the Newark flight been pulled due to problem on Newark route or do they have two problems on the same day?
Join Date: Dec 2006
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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.
When Silverjet released this statement;
"The Board is making every effort to ensure that Silverjet will achieve its
first month of operating profit and be cash generative in March 2008."
first month of operating profit and be cash generative in March 2008."
However, today sees an increase in share value which I guess is a step in the right direction.
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Silverjet
Certainly not atmosphere. Just somebody which has taken a very close interest in the ups and downs of the aviation industry for many years. If you look at the statement it states that it is making every effort to make a profit not that it actually would.
May I remind you of the old maxim in the aviation world – how do you make your first £1 million – start with £2 million!
May I remind you of the old maxim in the aviation world – how do you make your first £1 million – start with £2 million!
Further problems with G-BYAA/AB have been announced (due to funding)....
AA has been Technically accepted by Silverjet but is still at Dublin (care and maintenance program)
AB will now re-enter service with TOM following its "C" check at LTN to cover for a 767-3 repair.
BE
AA has been Technically accepted by Silverjet but is still at Dublin (care and maintenance program)
AB will now re-enter service with TOM following its "C" check at LTN to cover for a 767-3 repair.
BE
Join Date: Mar 2004
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Hmmm...great. More information pretty fundamental to the company's future leaks from Silverjet with no official statement to the stock market and shareholders, who should have heard about it first. They really must think that corporate governance rules don't apply to them. Unbelievable.
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Am I being a bit daft, but didn't Silverjet actually bring forward the delivery of Alpha-Alpha & Alpha-Bravo considerably earlier than planned?
No doubt they are going back to a more current market focused requirement, just as long as Silverjet are not paying heavily for 2 airframes (1 if you believe the engineer) whilst AA is parked under 'care and maintenance' in Dublin?
Why do Silverjet have so many enemies? Fly Victoria, SweFly, Ciao-Fly etc never generated such partisan attitudes than Silverjet currently do.
What have Silverjet done that is so evil and unprecedented in the UK airline business?
No doubt they are going back to a more current market focused requirement, just as long as Silverjet are not paying heavily for 2 airframes (1 if you believe the engineer) whilst AA is parked under 'care and maintenance' in Dublin?
Why do Silverjet have so many enemies? Fly Victoria, SweFly, Ciao-Fly etc never generated such partisan attitudes than Silverjet currently do.
What have Silverjet done that is so evil and unprecedented in the UK airline business?
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What have Silverjet done that is so evil and unprecedented in the UK airline business?
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Silverjet have been very good at keeping pax happy. This has been done by taking about £60m from shareholders and a £10m loan on the understanding that the money was going on expanding. The last round of fund rasing was to lease the two 767-200ERs and expand the lounge. The spin has now ended and the management are making no comments on new planes or new routes. The shareholders should not find out what is going on here but should be updated by the management via the proper stock exchange news service.
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Interesting thought - what if they jumped into bed with tui? Could TOM offload the 763's when they finally get the 787's, as well as giving them a wider distribution channel.
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I have also been told "AA" is on care of maintenance in Dublin and "AB" is back at LTN which is going to cover for a B767-300 that is going to Dubai for work to be carried out on it.
Looks like "Blue Tui" earlier was spot on the money.
Looks like "Blue Tui" earlier was spot on the money.
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I did indeed and what l was trying to say is what you wrote was correct, as everyone kept remarking "if the engineer is correct" and l was pointing out that you were confirming the early post.
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Re the recent movement in the share price, I see the company has issued a Stock Exchange announcement.
"The company is currently in discussions which may or may not lead to an offer for the issued share capital of the company.
A further announcement will be made when appropriate".
"The company is currently in discussions which may or may not lead to an offer for the issued share capital of the company.
A further announcement will be made when appropriate".
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LONDON (Thomson Financial) - Business airline Silverjet Plc. said it is in talks about a potential takeover of the company.
The carrier, which flies from Luton to New York Newark and Dubai, said in a statement that it had noted a recent increase in its share price.
'The company is currently in discussions which may or may not lead to an offer for the issued share capital of the company,' the group said. 'A further announcement will be made when appropriate.'
Speculation has emerged about Silverjet's future following negative analyst comment and results that disappointed investors.
One report suggested the business airline could become a takeover target for easyJet Plc. after it said in January that it had appointed Amir Eilon, a former board member of the budget carrier and friend of easyJet's largest shareholder Stelios Haji-Ioannou, as a non-executive director.
In January, stockbroker Daniel Stewart initiated coverage on the airline with a 'sell' rating and zero pence price target, saying it doubted the group's business model. Silverjet hit back, saying it was confident the carrier would achieve its first month of operating profit in March.
The group failed to achieve that target, but said earlier this month that it flew 23 percent more passengers in March than it did in February.
In February, Silverjet said property tycoons the Reuben brothers had decided against turning a 10 mln stg loan to the business airline into shares.
Silverjet launched services from the UK to the US in January last year. The group's share price has fallen since it floated in 2006 and concerns have grown about the feasibility of the all-business class, long-haul airline model since US premium only carrier Maxjet Airways filed for bankruptcy late last year.
However, some analysts believe there could be space for different types of premium-only carriers.
The group's shares closed at 15-1/4 pence on Wednesday. It floated on AIM in May 2006 with a placing price of 112 pence per share.
TFN.newsdesk(at)thomson.com
The carrier, which flies from Luton to New York Newark and Dubai, said in a statement that it had noted a recent increase in its share price.
'The company is currently in discussions which may or may not lead to an offer for the issued share capital of the company,' the group said. 'A further announcement will be made when appropriate.'
Speculation has emerged about Silverjet's future following negative analyst comment and results that disappointed investors.
One report suggested the business airline could become a takeover target for easyJet Plc. after it said in January that it had appointed Amir Eilon, a former board member of the budget carrier and friend of easyJet's largest shareholder Stelios Haji-Ioannou, as a non-executive director.
In January, stockbroker Daniel Stewart initiated coverage on the airline with a 'sell' rating and zero pence price target, saying it doubted the group's business model. Silverjet hit back, saying it was confident the carrier would achieve its first month of operating profit in March.
The group failed to achieve that target, but said earlier this month that it flew 23 percent more passengers in March than it did in February.
In February, Silverjet said property tycoons the Reuben brothers had decided against turning a 10 mln stg loan to the business airline into shares.
Silverjet launched services from the UK to the US in January last year. The group's share price has fallen since it floated in 2006 and concerns have grown about the feasibility of the all-business class, long-haul airline model since US premium only carrier Maxjet Airways filed for bankruptcy late last year.
However, some analysts believe there could be space for different types of premium-only carriers.
The group's shares closed at 15-1/4 pence on Wednesday. It floated on AIM in May 2006 with a placing price of 112 pence per share.
TFN.newsdesk(at)thomson.com