SilverJet (Merged 30/05)
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Speaking to one of their Captain's last night, he informed us that Silverjet were two days away from being broke before that money came in from the Middle East.
I am not being negative as every airline is facing massive troubles and Silverjet like us all needs support from every angle in aviation.
Most airlines are now planning at mach 0.78 across the pond to save fuel and cost cutting wherever they can.
I hope Silverjet survive, but in this climate it is who has the deepest bank account rather than how many passengers it is carrying.
Just for example ex LGW the CO flight to Cleveland had eight passengers and the Qatar flight to Doaha has 7.
I see oil has now gone over USD130 per barrell.
It is a very harsh and stressfull time for all airlines at the moment.
Cheers
Vince
I am not being negative as every airline is facing massive troubles and Silverjet like us all needs support from every angle in aviation.
Most airlines are now planning at mach 0.78 across the pond to save fuel and cost cutting wherever they can.
I hope Silverjet survive, but in this climate it is who has the deepest bank account rather than how many passengers it is carrying.
Just for example ex LGW the CO flight to Cleveland had eight passengers and the Qatar flight to Doaha has 7.
I see oil has now gone over USD130 per barrell.
It is a very harsh and stressfull time for all airlines at the moment.
Cheers
Vince
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Diesel,
The Captain would not have had accurate knowledge of Silverjet's financial position whatever he might have told you though no one doubts it was a very good time to recieve the investment.
The Captain would not have had accurate knowledge of Silverjet's financial position whatever he might have told you though no one doubts it was a very good time to recieve the investment.
Join Date: Apr 2008
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Originally Posted by davidgreen
The 3/5ths of management have just been deleated from the silverjet website.
Martyn Bridger, katherleen Gershot and Goirge Henderson are removed.
Martyn Bridger, katherleen Gershot and Goirge Henderson are removed.
From reading round news reports the whole level of management has been culled. That must save Silverjet a few grand per week.
http://www.businesstravelworld.com/nav?page=businesstravelworld.gen_obj_redirects.news&fixture_ news=7152034&resource=7152034&view_resource=7152034
Silverjet unveils senior staff changes
Tuesday, May 20, 2008
Russell Parsons
Silverjet has restructured some of its senior roles as the airline looks to develop and expand into new markets.
The move, which follows Viceroy Holdings LLC’s announced intention earlier this month to invest $100 million in the business-class-only airline, will see immediate changes in sales, marketing, customer experience and IT as part of a review of all departments in the company.
Global sales will now be overseen by Tim Buckman, formerly head of sales in the US. Tamarah Khatib, previously head of global online marketing, takes on the role of head of global marketing. Former head of product and service development, Georgina Scobling, will now be head of customer experience, while Bill Lowe, formerly IT support manager, becomes head of IT.
Lawrence Hunt, chief executive of Silverjet, said: “The new investment means that Silverjet is now well placed, both financially and strategically, to exploit the opportunities which exist in the airline and all-business-class market – a market which we now dominate.
“This is a very exciting time for Silverjet and we are currently restructuring some of the key roles in the company to reflect the new investment and to ensure that Silverjet continues to grow from strength to strength.”
Is Annnee still in a job or have you been moved up to head of PR?
You didn't answer my question about whether you have shares in SIL.L. Do you? If you do, you would know that all shareholders are invited to attend the EGM on 30th May to hear the proposals, ask questions and vote. If you go you could ask about those jets that are on order, couldn't you?
Oil has just crossed $130/barrel in asia. This does not seem to be a time to expand.
the more the oil prices rise the better and better for Silverjet... well off business people and rich folk do not stop travelling on business and vacations..... only the poorer people cut back on vacations....... economy classes and budget airlines will be hit hardest as necessary costs being passed on the travellers might result in empty seats!
The opportunity for Sil to expand must be huge... with good marketing and finances and more planes this company could be the next Virgin Airlines... currently they only have a tiny fraction of the market..... most jumbos have about 15% of seats for business and first class customers.... if Silverjet even took away 1-2 % from the main carriers in a few years time the sp could be worth a fortune...definately the sp is rock bottom now .. only way is up!.. going bust won't happen.
The opportunity for Sil to expand must be huge... with good marketing and finances and more planes this company could be the next Virgin Airlines... currently they only have a tiny fraction of the market..... most jumbos have about 15% of seats for business and first class customers.... if Silverjet even took away 1-2 % from the main carriers in a few years time the sp could be worth a fortune...definately the sp is rock bottom now .. only way is up!.. going bust won't happen.
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the more the oil prices rise the better and better for Silverjet...
Reading the circular to shareholders makes plain the cash flow problems the airline had between Nov 07 and April 08. It seems they burned £22m over 5 months when oil prices were far lower.
You can keep full names out of the thread. Thank You. Hogg
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You really are a pessimistic sort of person, aren't you David? Behind every cloud there is a *silver lining (an unintentional play on words there) Cheer up and think positively. 
As a future passenger and hopefully, a repeat passenger too I signed up to Silverjet's email news facility.
I just received this news via email:
Great news, isn't it dave - I hope you don't mind me calling you dave?
As a future passenger and hopefully, a repeat passenger too I signed up to Silverjet's email news facility.
I just received this news via email:
This week, we celebrated carrying our 100,000th passenger*. Silverjet monthly passenger numbers are at an all-time high, whilst we continue to provide an exceptionally punctual service thanks to our private terminal at London Luton, with 30 minute check-in and exclusive, dedicated security channel.
*Total passengers carried includes seats generated from commercial revenue, passengers on non-refundable tickets who have not flown, and all promotional tickets.
*Total passengers carried includes seats generated from commercial revenue, passengers on non-refundable tickets who have not flown, and all promotional tickets.
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The mod just corrected a mistake I made when I listed the 3 people who seem to have been promoted out of silverjet.
I will tread very carefully and hope new york is not too hot in July.
so the 100,000 includes all the free seats given as promos.
Do you mind me asking how much you paid for your tickets or were they free?
I will tread very carefully and hope new york is not too hot in July.
Total passengers carried includes seats generated from commercial revenue, passengers on non-refundable tickets who have not flown, and all promotional tickets
Do you mind me asking how much you paid for your tickets or were they free?
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I paid for them - £1370. An absolute bargain, imo. Even if the worst came to the worst (and I really don't believe it will, being an optimistic sort of person) I would get all my money back.
I've been to NY in July before, so know what to expect, weather-wise. But I aim to get out of the city pretty quickly and get beside some cooling oases whilst sipping Margueritas.
Have you flown on Silverjet yet?
I've been to NY in July before, so know what to expect, weather-wise. But I aim to get out of the city pretty quickly and get beside some cooling oases whilst sipping Margueritas.
Have you flown on Silverjet yet?
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Marketing
As part of the restructuring they should sack the enitre marketing team. They have had 3 years to create a strong a brand and at this point in time the brand is almost unknown!!, as said in a previous post "the guy didnt know the aitline existed til his pa told him" sums it up!!
The number of people I speak to who would definatley fly with Silver but have never heard of them!
In this current climate (with silvers total package) stealing ba/virgin business and first class passenger should be like taking candy from a baby!
The management need to get it sorted fast or before you know it the $100 million will be gone!!!
I hope they survive, best of luck
Red
The number of people I speak to who would definatley fly with Silver but have never heard of them!
In this current climate (with silvers total package) stealing ba/virgin business and first class passenger should be like taking candy from a baby!
The management need to get it sorted fast or before you know it the $100 million will be gone!!!
I hope they survive, best of luck
Red
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That is so true!
I have mentioned them in conversation with several people who I assumed might already have flown with Silverjet - 'they sound interesting, tell me more' - was the typical response.
I have mentioned them in conversation with several people who I assumed might already have flown with Silverjet - 'they sound interesting, tell me more' - was the typical response.
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Suspension - Silverjet plc
RNS Number : 1447V
AIM
23 May 2008
NOTICE
(323)
23/05/2008 7:55am
TEMPORARY SUSPENSION OF TRADING ON AIM
SILVERJET PLC
At the request of the company trading on AIM for the under-mentioned securities has been
temporarily suspended from 23/05/2008 7:55am
pending an announcement having been made.
Ordinary Shares of 1p each (B1443S3)(GB00B1443S31)
fully paid
If you have any queries relating to the above, please contact the Company's nominated
adviser on 020 7398 1600.
Ref: AIMNOT323
This information is provided by RNS
The company news service from the London Stock Exchange
END
RNS Number : 1447V
AIM
23 May 2008
NOTICE
(323)
23/05/2008 7:55am
TEMPORARY SUSPENSION OF TRADING ON AIM
SILVERJET PLC
At the request of the company trading on AIM for the under-mentioned securities has been
temporarily suspended from 23/05/2008 7:55am
pending an announcement having been made.
Ordinary Shares of 1p each (B1443S3)(GB00B1443S31)
fully paid
If you have any queries relating to the above, please contact the Company's nominated
adviser on 020 7398 1600.
Ref: AIMNOT323
This information is provided by RNS
The company news service from the London Stock Exchange
END
Join Date: Sep 2007
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RNS Number: 1465V
RNS Number : 1465V
Silverjet PLC
23 May 2008
23 May 2008Silverjet plc
Working capital update
On 6 May 2008, Silverjet announced that on 2 May 2008 Silverjet Aviation Limited
("Silverjet Aviation"), a wholly owned subsidiary of Silverjet, had entered into
a GBP8.4 million loan facility agreement (the "Loan Facility") and that
Silverjet had entered into a proposed GBP4.3 million subscription agreement with
Viceroy Holdings LLC ("Viceroy"). On 2 May 2008, Silverjet Aviation served a
notice under the Loan Facility to drawdown approximately US$5.0 million.
Silverjet has yet to receive the full drawdown.
As announced on 30 April 2008, Silverjet's working capital reserves are limited
and advances under the Loan Facility are required as a matter of urgency.
In the circumstances, Silverjet has requested, and the London Stock Exchange has
confirmed, an immediate suspension in the trading of the ordinary shares of the
Company on the AIM market of the London Stock Exchange.
Silverjet continues discussions with other parties, which have confirmed an
interest in investing in the Company.
In the meantime, Silverjet's services continue as scheduled.
- ends -
RNS Number : 1465V
Silverjet PLC
23 May 2008
23 May 2008Silverjet plc
Working capital update
On 6 May 2008, Silverjet announced that on 2 May 2008 Silverjet Aviation Limited
("Silverjet Aviation"), a wholly owned subsidiary of Silverjet, had entered into
a GBP8.4 million loan facility agreement (the "Loan Facility") and that
Silverjet had entered into a proposed GBP4.3 million subscription agreement with
Viceroy Holdings LLC ("Viceroy"). On 2 May 2008, Silverjet Aviation served a
notice under the Loan Facility to drawdown approximately US$5.0 million.
Silverjet has yet to receive the full drawdown.
As announced on 30 April 2008, Silverjet's working capital reserves are limited
and advances under the Loan Facility are required as a matter of urgency.
In the circumstances, Silverjet has requested, and the London Stock Exchange has
confirmed, an immediate suspension in the trading of the ordinary shares of the
Company on the AIM market of the London Stock Exchange.
Silverjet continues discussions with other parties, which have confirmed an
interest in investing in the Company.
In the meantime, Silverjet's services continue as scheduled.
- ends -
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Silverjet Shares Suspended
Silverjets shares suspended this morning due not being able to make the $5mill drawdown under the agreed memorandum of undrestanding. Seeking additional financing from other interested sources.
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Just heard about this on the Today programme. The usual "trading in shares suspended but operations continuing as scheduled" message which readers of related threads will remember well.
I would reckon that their debt/equity lifeline has been cut off, hence they can see no route to restoring their working capital to an acceptable level.
I can foresee 2 scenarios now for the Silverjet brand:
1. Insolvency/winding up (60%)
2. Fire sale on brink of insolvency/acquisition from receivers (40%)
Normally in these situations (2) would have a lower probability, but I do find this a comtemplable scenario now that Silverjet is the last of the 3 all-premium carriers, so someone may feel that they can make a go of it. We will see.
Good luck to all at Silverjet at this difficult time.
I would reckon that their debt/equity lifeline has been cut off, hence they can see no route to restoring their working capital to an acceptable level.
I can foresee 2 scenarios now for the Silverjet brand:
1. Insolvency/winding up (60%)
2. Fire sale on brink of insolvency/acquisition from receivers (40%)
Normally in these situations (2) would have a lower probability, but I do find this a comtemplable scenario now that Silverjet is the last of the 3 all-premium carriers, so someone may feel that they can make a go of it. We will see.
Good luck to all at Silverjet at this difficult time.
Just read some recent posts, 8che you have flamed diesel862 for quoting a Silverjet Captain on their financial position - but events have proved him to be 100% accurate (outcome AND timing!).
Be careful. There are lots of bs-ers around but I would be a little more circumspect before dismissing any information! You can sometimes be surprised by who knows what!
Be careful. There are lots of bs-ers around but I would be a little more circumspect before dismissing any information! You can sometimes be surprised by who knows what!
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http://uk.biz.yahoo.com/23052008/323...uncertain.html refers further......
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I hope we keep our newark flights from BHX. I do like winter in New York. Silverjet have been very unlucky to be starting up during a meltdown. I guess it is better for new investors to wait a year to see if things are better. In Restarting silverjet in 2009/10 they may get a very good deal on the 767s and better contracts at the airports.