Silverjet 2 - The Phoenix?
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To those who think that the Silver Jet business model won't/doesn't work, ask yourselves why is it that Big Airways are launching a business only London-New York service in the near future?
Because there is money to be made in it, might be the answer.
Maybe rumours were spread to the city from undisclosed sources? Competition drowned at birth to enable the big brother to thrive? Remember Laker and Virgin, both attacked, one survived. Conspiracy theories rule!
Good luck to them if they do get going again.
Maybe because they have the big buisness clients secured on long standing contracts!! That new start ups can't even get close to.
Because there is money to be made in it, might be the answer.
Maybe rumours were spread to the city from undisclosed sources? Competition drowned at birth to enable the big brother to thrive? Remember Laker and Virgin, both attacked, one survived. Conspiracy theories rule!
Good luck to them if they do get going again.
Maybe because they have the big buisness clients secured on long standing contracts!! That new start ups can't even get close to.
To those who think that the Silver Jet business model won't/doesn't work, ask yourselves why is it that Big Airways are launching a business only London-New York service in the near future?
Because there is money to be made in it, might be the answer.
Yeah right, you reckon. Another of BA follies methinks!!
Because there is money to be made in it, might be the answer.
Yeah right, you reckon. Another of BA follies methinks!!
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The business model does work but as Silverjet has demonstrated you need substantial funds behind it to get over the start up costs until you can make money on it. Silverjet has a good model, just needs the right long term investment.
BA has the money and very reduced startup costs as the aircraft and a lot of expertise are coming from mainline, plus they have an established brand and corporate clients, who will probably make the bulk of the London City - New York passengers.
I hope Silverjet comes through but my guess is the brand is damaged now and it will take a lot to restore it, and with the rising cost of fuel their fares might have to rise, which could push potential customers to the majors, who are able to reduce fares and take a hit.
BA has the money and very reduced startup costs as the aircraft and a lot of expertise are coming from mainline, plus they have an established brand and corporate clients, who will probably make the bulk of the London City - New York passengers.
I hope Silverjet comes through but my guess is the brand is damaged now and it will take a lot to restore it, and with the rising cost of fuel their fares might have to rise, which could push potential customers to the majors, who are able to reduce fares and take a hit.
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please come back!!
Silverjet had a great product! hope this new potential investor can bring them back in the game...just before it went under they were generating 95% loads and much higher yields than earlier in the year. I think customers will be sympathetic if they start up again...
Those dodgey UAE investors who held on for so long and then just couldn't produce the goods are not to be trusted,Silverjet shouldn't try to deal with them again. They'll only just take it out to Dubai anyway!
Those dodgey UAE investors who held on for so long and then just couldn't produce the goods are not to be trusted,Silverjet shouldn't try to deal with them again. They'll only just take it out to Dubai anyway!
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Silverjet to fly again...
This is excellent news, and it should be applauded!
Why is the city of London knocking this company. Certain 'brokers' were panning the company from day 1... Its outrageous that such 'qualified people' could possibly do harm to a company they know absolutely nothing about...
Maybe Birdseed Airways has had a finger in the pie somewhere - who knows. However, the rumour that Birdseed were 'looking' at Silverjet does pose a question or two.
I do think Silverjet should be allowed to get on with their business - which is soley aimed at Business Class passengers. Its a market that is growing (Just look at Netjets) If another company such as Birdseed want in on the action, then so be it, but it will be very difficult for them to actually operate a service from LCY with only 2 aircraft! Clutching at straws, missed the boat, bolting the door after the horse has gone etc etc... Openskies - the agreement - has opened up BAs home base to everyone and anyone so let the games begin!
Personally, I cant wait to see what the next 12 months brings!
Go for it Silverjet. Now is your chance to re-establish yourself and prove these city *ankers wrong!
This is excellent news, and it should be applauded!
Why is the city of London knocking this company. Certain 'brokers' were panning the company from day 1... Its outrageous that such 'qualified people' could possibly do harm to a company they know absolutely nothing about...
Maybe Birdseed Airways has had a finger in the pie somewhere - who knows. However, the rumour that Birdseed were 'looking' at Silverjet does pose a question or two.
I do think Silverjet should be allowed to get on with their business - which is soley aimed at Business Class passengers. Its a market that is growing (Just look at Netjets) If another company such as Birdseed want in on the action, then so be it, but it will be very difficult for them to actually operate a service from LCY with only 2 aircraft! Clutching at straws, missed the boat, bolting the door after the horse has gone etc etc... Openskies - the agreement - has opened up BAs home base to everyone and anyone so let the games begin!
Personally, I cant wait to see what the next 12 months brings!
Go for it Silverjet. Now is your chance to re-establish yourself and prove these city *ankers wrong!
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The thing is though Tristar, the guys down at canary wharf want to fly from LCY they dont want to go to a regional airport ie. Luton to travel on an aircraft that was never designed to do what SJ want it to do . You can paint an old 767 up in a fancy paint job and make the interior fancy but it doesnt disguise the fact that the airframes have some miles on them !!!! The 318s that BA are getting are brand spanking new and are being kitted out to do the job they are intended to do from the start , i am not knocking Silverjet and the product that they are trying to deliver, but maybe smaller new airframes are the way to go when trying to deliver this high end product and not just converting a large old aircraft that was designed to do a different job.
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Silverjet's target market was primarily for city *ankers. Really?
moarlowe, SJ have to start somewhere as does every start up does with their choice in a/c. A low leasing cost of an older 76 determined lower operating costs!
They were about to go for the 200ERs'. BA is no comparison; SJ's real market was the in-between premium economy/business class passengers, not necessarily the city banker don't you think?
They were about to go for the 200ERs'. BA is no comparison; SJ's real market was the in-between premium economy/business class passengers, not necessarily the city banker don't you think?
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I know what you are saying Banterman regards start up ,and that a lease on an older airframe is probably cheaper but is it? I think that there is a niche market for a high end product that sits somewhere between business/First class and the private business jet market, and if properly addressed with the right airframe and inflight experiance, and correct destination would work. Three Business type airlines have gone bust in the last year all with the same type of business model, so on the surface you could conclude that there is not the market for this type of service, but i disagree I think that you need to look at the model with a different perspective and possibly BA may have just got what is required.
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Very best of luck to all at Silverjet. If the Investors have the confidence to settle the creditors, pay the staff, post the size of bond that the CAA ERG will now require, pay upfront to reorganise the engineering cover - then they have deep pockets indeed and must genuinely believe the businessplan will work.
No reason they're wrong, (and they're not necessarily right), but the model deserves to succeed.
Fingers crossed!
No reason they're wrong, (and they're not necessarily right), but the model deserves to succeed.
Fingers crossed!
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Eos and MaxJet tried to expand too quickly, whereas Silverjet took its time with NWK and DXB and just needed these two more aircraft to start making a viable profit! (Eos was definitely First Class), silverjet not quite the same. But you cant say there isn't a market for the Business class travelers going to the US. L'Avion are doing well, BA is going to try and grab back a piece of the pie, KLM and PrivitAir expanding... I'm told the flows between us and the US is like 7000/day, 18% of which is business and 11% first. What more proof do you need!
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Can we eliminate "Rent a Muppet" and " My airline knowledge is gained from computer games" people here?
And can we start with Banterman who patently has zero understanding of he mechanics of the market for business travel!
And can we start with Banterman who patently has zero understanding of he mechanics of the market for business travel!
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Wouldn't it be a good idea for XL to purchase SJ, Then run SJ alongside XL's fleet of current 76's??
What made me think of this, Is if Peter Owen is returning to restart SJ.
SJ could be renamed something like 'XL EXEC' the same product as before but owned by the XL Leisure Group, Or part owned etc.
XL's 76's could sub for the EXEC side when short, And vice versa.
And also the engineering side of the combined fleets.
Obviously it would be at a cost to the XL Group, But could also be an investment in the long run.
I think the only way SJ would have a more secure future would be to 'pair up' with a company as XL.
All SJ needs is that initial 'push' from a major player.
I do believe there is a demand for whole Business Airlines as SJ.
And it was proved with 3 years of op's.
Then Mr Owen would have 2 in 1, & a bigger POW fan club..
I think now is the critical time that our Airlines need to work together to save each other from sudden death, Not compete against each other
As 2008 is just a 'wake up' call - 2009 will be a very unhappy year to all of us and that's inevitable.
We are losing an Airline/operator 1 every 5 days.
What made me think of this, Is if Peter Owen is returning to restart SJ.
SJ could be renamed something like 'XL EXEC' the same product as before but owned by the XL Leisure Group, Or part owned etc.
XL's 76's could sub for the EXEC side when short, And vice versa.
And also the engineering side of the combined fleets.
Obviously it would be at a cost to the XL Group, But could also be an investment in the long run.
I think the only way SJ would have a more secure future would be to 'pair up' with a company as XL.
All SJ needs is that initial 'push' from a major player.
I do believe there is a demand for whole Business Airlines as SJ.
And it was proved with 3 years of op's.
Then Mr Owen would have 2 in 1, & a bigger POW fan club..
I think now is the critical time that our Airlines need to work together to save each other from sudden death, Not compete against each other
As 2008 is just a 'wake up' call - 2009 will be a very unhappy year to all of us and that's inevitable.
We are losing an Airline/operator 1 every 5 days.
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Don't shoot the messenger...
'Ian Ilsley, chairman of Heritage and a director of Kingplace, said that the group intended to take on all existing staff and to honour Silverjet’s existing customers’ tickets. He said that Silverjet could return to the skies “in a matter of weeks”.'
Quoted from the Times...
Silverjet has not exactlty had an easy ride, with supposed investors not coming up trumps... but we are attempting to make things right... with the right support.
Quoted from the Times...
Silverjet has not exactlty had an easy ride, with supposed investors not coming up trumps... but we are attempting to make things right... with the right support.
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Silver Lining for Silver Jet?
Just read this on ATW this morning. Hope it goes through. Good luck to the guys and gals at S/J!
http://www.atwonline.com/news/story.html?storyID=12991
Good luck to the guys and gals at S/J!http://www.atwonline.com/news/story.html?storyID=12991
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Too mean to buy a long personal title
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Silverjet saviour's companies show late filing and losses
By Alistair Osborne
Last Updated: 1:08am BST 12/06/2008
The businessman fronting the proposed rescue of business class-only airline Silverjet is a director of late-filing companies, whose most recent venture has left investors nursing heavy losses.
Ian Ilsley, 59, is a director of Kingplace, the Ireland-registered company that is hammering out final terms of Silverjet's rescue with administrator Begbies Traynor.
Mr Ilsley also chairs a Geneva trust and management company, Heritage Cie SA, that manages Kingplace, whose offer is being made on behalf of undisclosed private clients.
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Kingplace intends to relaunch Silverjet, which flew from Luton to Dubai and New York, within the next few weeks and is working with the carrier's chief executive, Lawrence Hunt.
Monaco-based Mr Ilsley is most recently known to UK investors as the chairman and finance director of Sandhaven Resources, an Irish-registered company formed to acquire and develop oil and gas assets.
It is registered on the Plus Markets junior exchange, where its shares have collapsed from around 175p a year ago to 34½p yesterday, valuing the group at £24.3m. Sandhaven made €74,000 losses (£58,600) in its most recent half year.
On May 30, Sandhaven said its full-year results, due to be announced that day, were "still being finalised by the company's auditors". They are now due by Friday - when Kingplace plans to complete the Silverjet deal.
When Sandhaven began trading on Plus in May 2007, Mr Ilsley's current UK directorships were listed as BASE Management (UK), Garnham & Co Management (UK), Marine and Aviation Services, Napier Properties, TNTC, Tulah Yachts and Yachting Ventures.
Companies House searches show that BASE and Yachting Ventures each have shareholder funds of only £2, while Napier is dormant and Tulah has never filed accounts, which like BASE's are now overdue.
This from Daily Telegraph today - hope it all goes OK for the company!
Matt.
By Alistair Osborne
Last Updated: 1:08am BST 12/06/2008
The businessman fronting the proposed rescue of business class-only airline Silverjet is a director of late-filing companies, whose most recent venture has left investors nursing heavy losses.
Ian Ilsley, 59, is a director of Kingplace, the Ireland-registered company that is hammering out final terms of Silverjet's rescue with administrator Begbies Traynor.
Mr Ilsley also chairs a Geneva trust and management company, Heritage Cie SA, that manages Kingplace, whose offer is being made on behalf of undisclosed private clients.
advertisement
Kingplace intends to relaunch Silverjet, which flew from Luton to Dubai and New York, within the next few weeks and is working with the carrier's chief executive, Lawrence Hunt.
Monaco-based Mr Ilsley is most recently known to UK investors as the chairman and finance director of Sandhaven Resources, an Irish-registered company formed to acquire and develop oil and gas assets.
It is registered on the Plus Markets junior exchange, where its shares have collapsed from around 175p a year ago to 34½p yesterday, valuing the group at £24.3m. Sandhaven made €74,000 losses (£58,600) in its most recent half year.
On May 30, Sandhaven said its full-year results, due to be announced that day, were "still being finalised by the company's auditors". They are now due by Friday - when Kingplace plans to complete the Silverjet deal.
When Sandhaven began trading on Plus in May 2007, Mr Ilsley's current UK directorships were listed as BASE Management (UK), Garnham & Co Management (UK), Marine and Aviation Services, Napier Properties, TNTC, Tulah Yachts and Yachting Ventures.
Companies House searches show that BASE and Yachting Ventures each have shareholder funds of only £2, while Napier is dormant and Tulah has never filed accounts, which like BASE's are now overdue.
This from Daily Telegraph today - hope it all goes OK for the company!
Matt.
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I do not want to rain on anyones parade but this company does not exactly come with glowing testimonials. I am sure that if it is to succeed it must restart without delay and if so in todays worsening climate can it really last. I hope that the staff will not ultimately suffer once more.
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Google found...
http://www.sandhaven.net/about.html
http://www.forbes.com/finance/mktgui...rsonId=1110172
http://www.sandhaven.net/about.html
Mr Ian Ilsley FCCA, FinstD - Chairman and Finance Director
Ian has over twenty years experience in the trust and offshore management business. Since 1998, Mr Ilsley has, been the Managing Director of Garnham & Co., a Bermudian corporate consultancy/corporate finance business. He has significant experience in the public company arena, having been a director of several U.K. and U.S. listed companies. Ian's professional qualifications ensure that he is in constant update with the ever changing corporate governance, international financial standards and reporting requirements.
Ian has over twenty years experience in the trust and offshore management business. Since 1998, Mr Ilsley has, been the Managing Director of Garnham & Co., a Bermudian corporate consultancy/corporate finance business. He has significant experience in the public company arena, having been a director of several U.K. and U.S. listed companies. Ian's professional qualifications ensure that he is in constant update with the ever changing corporate governance, international financial standards and reporting requirements.
Ian Ilsley
Director at
Pulmo BioTech, Incorporated
New York, New York
HEALTHCARE / BIOTECHNOLOGY
Director since February 2008
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58 years old
Ian Ilsley, age 58, has served as Director since June, 2006. Since 1984, Mr. Ilsley has been the Managing Director of Bureau d'administration de Services et d'Etudes (Monaco), a small but long-established Monegasque financial services and management consulting business that offers trust, offshore management and tax planning and related activities. Since 1998, Mr. Ilsley has also been the Managing Director of Garnham & Co. Limited (Bermuda), a corporate consultancy/corporate finance business operating under the Garnham and Fulton Partners names. Mr. Ilsley holds a degree in accountancy and business studies from Thames Valley University and is qualified as a Chartered Certified Accountant.
Director at
Pulmo BioTech, Incorporated
New York, New York
HEALTHCARE / BIOTECHNOLOGY
Director since February 2008
Track This Person
58 years old
Ian Ilsley, age 58, has served as Director since June, 2006. Since 1984, Mr. Ilsley has been the Managing Director of Bureau d'administration de Services et d'Etudes (Monaco), a small but long-established Monegasque financial services and management consulting business that offers trust, offshore management and tax planning and related activities. Since 1998, Mr. Ilsley has also been the Managing Director of Garnham & Co. Limited (Bermuda), a corporate consultancy/corporate finance business operating under the Garnham and Fulton Partners names. Mr. Ilsley holds a degree in accountancy and business studies from Thames Valley University and is qualified as a Chartered Certified Accountant.