Silverjet 2 - The Phoenix?
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Stormin Norm and anyone else who suggests that 300+ staff was excessive for 3 aircraft. What you have missed is that Silverjet were in the process of taking aircraft 4 & 5 very shortly.
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Freddy
they weren't in the process of anything like that at all.
They were presenting to the big wide world that they were gearing up for jets 4 and 5 and everything was rosy but were frantically trying to raise enough money to keep 1 thru 3 going!
they weren't in the process of anything like that at all.
They were presenting to the big wide world that they were gearing up for jets 4 and 5 and everything was rosy but were frantically trying to raise enough money to keep 1 thru 3 going!
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Slim,
As far as I know they had done verification flights on at least 1 of the next aircraft to arrive. Crew were being taken on ready for the next 2 aircraft I should know- I was one of them.
As far as I know they had done verification flights on at least 1 of the next aircraft to arrive. Crew were being taken on ready for the next 2 aircraft I should know- I was one of them.
It's a real shame
It's a real shame that SJ didn't make it. It is "upstarts" like SJ that will teach the legacy dinosaurs about how to run a business.
I do hope that the staff find great new jobs as soon as possible!
I remember reading some of their enthusiastic posts on pprune as they were heading for the first flights. They made me feel good to be in the sector.
I do hope that the staff find great new jobs as soon as possible!
I remember reading some of their enthusiastic posts on pprune as they were heading for the first flights. They made me feel good to be in the sector.
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From someone who has been involved in interviewing some Silverjet cabin crew since the company went in to administration, it is has been a pleasure to meet so many professional people who clearly had/have loyalty to their employer, despite what has happened.
They will be a real asset to our airline, if they accept the offers of employment.
I would have loved to have experienced their on board service, which sounds excellent.
They will be a real asset to our airline, if they accept the offers of employment.
I would have loved to have experienced their on board service, which sounds excellent.
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I was one of the lucky passengers who sampled SJ's fantastic service, although far from the normal mode of air travel i am used to, it was like being royalty, and the 7 hr flight to Newark felt like 3.5hrs.
I had hoped that they would be able stay alfoat, or a solution found, because i would have booked again. I am sure that SJ staff will be an asset to any company in the position to offer employment.
I had hoped that they would be able stay alfoat, or a solution found, because i would have booked again. I am sure that SJ staff will be an asset to any company in the position to offer employment.
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Could it be third time lucky for beleaguered Silverjet? Given the past six long weeks in the history of the former luxury airline, few would bet on its salvation. However Reuters reports that ArabJet, a premium class start-up airline based in Dubai, is talking to the administrators about a possible rescue package.
This would be the second attemped take-over of Silverjet by a UAE-based backer. Viceroy Holdings, was expected to inject a mixture of debt and equity into the business in May, but Silverjet was forced to call in administrators when it attempted to draw on Viceroy’s loan and found that there was no money available.
Talks to buy SilverJet by Kingplace, an Irish-registered company managed by Swiss trust and management company Heritage, collapsed on Friday, when the company made its 420 employees redundant.
Silverjet administrators Begbies Traynor but will not confirm that a bid has been made.
This would be the second attemped take-over of Silverjet by a UAE-based backer. Viceroy Holdings, was expected to inject a mixture of debt and equity into the business in May, but Silverjet was forced to call in administrators when it attempted to draw on Viceroy’s loan and found that there was no money available.
Talks to buy SilverJet by Kingplace, an Irish-registered company managed by Swiss trust and management company Heritage, collapsed on Friday, when the company made its 420 employees redundant.
Silverjet administrators Begbies Traynor but will not confirm that a bid has been made.
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Ancient Observer, or should that be Alzheimers Observer
"It's a real shame that SJ didn't make it. It is "upstarts" like SJ that will teach the legacy dinosaurs about how to run a business."
Wouldn't say they were that great at running a business, would you?
"It's a real shame that SJ didn't make it. It is "upstarts" like SJ that will teach the legacy dinosaurs about how to run a business."
Wouldn't say they were that great at running a business, would you?
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Silverjet did not own their aircraft they were flogged (to Novus) after buying Flyjet to raise cash, then they floated on the AIM to raise cash, then they borrowed money from the City to raise cash, then they borrowed money from the Reubens to raise cash then they borrowed money from Viceroy to raise cash, then they refused to pay their crew to raise cash, then they tried to borrow cash from the Irish/Swiss,
See the picture developing? They have been hemmoraging cash from day nought to no avail or succes.
As a side note, the final installment for the purchase of Flyjet and their leases was due in May this year, the final nail in their coffin? Surely secured against their 76 lease, or spares,
Their loans thusfar are secured, they owe the City 20million and the Reubens 10million, both are first in line.
Any rescuer will need to pay them back, plus an additional 20million in other debt plus the 20milion that the CAA wil require in escrow and we are talking over 70million to rescue an airline with no AOC, no Aircraft, no crew, no goodwill and a shady history of paying its bills.
Good luck.
See the picture developing? They have been hemmoraging cash from day nought to no avail or succes.
As a side note, the final installment for the purchase of Flyjet and their leases was due in May this year, the final nail in their coffin? Surely secured against their 76 lease, or spares,
Their loans thusfar are secured, they owe the City 20million and the Reubens 10million, both are first in line.
Any rescuer will need to pay them back, plus an additional 20million in other debt plus the 20milion that the CAA wil require in escrow and we are talking over 70million to rescue an airline with no AOC, no Aircraft, no crew, no goodwill and a shady history of paying its bills.
Good luck.
Last edited by cldrvr; 18th Jun 2008 at 14:47.
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The aircraft are owned by two separate leasing companies.
Two a/c are owned by a subsidiary of l believe CIT, understand both the ex TUI a/c. The other might belong to Boeing Capital.
Two a/c are owned by a subsidiary of l believe CIT, understand both the ex TUI a/c. The other might belong to Boeing Capital.
If I was a conspiracy theorist, i might think that BA had parachuted in ex BA managers to sabotage Silverjets' operation. However, knowing the characters in question, I'm sure any decisions were just the result of incompetence.Why is these people go from airline to airline leaving a trail of destruction behind? Actually, I have a fair idea...BA don't give bad references to anybody, only a piece of paper listing employment dates.If the new employer doesn't know the inside track, then these "managers" go from job to job creating carnage.
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Silverjet will not fly again, says chief executive
Dinah Hatch
Last Updated: 5:08PM BST 18/06/2008
Lawrence Hunt, chief executive of Silverjet, says the failed airline is permanently grounded. Dinah Hatch reports.
Silverjet was grounded on May 30 after failing to secure funding
Failed all-business carrier Silverjet will not fly again, its chief executive Lawrence Hunt has told The Daily Telegraph.
Hopes were revived that the airline would take to the skies again after rumours surfaced that Middle East proposed carrier Arabjet had made a bid for the beleagured business-class carrier.
But Hunt has rubbished plans publicised by Arabjet to revive the London-Luton based airline.
“They are just a bunch of timewasters," he alleges. "We’ve been talking to them since February, providing business plans, but it never moved forward. They can’t even raise the £125,000 needed to secure negotiations with the administrators. They just do not have the funding.”
Arabjet’s website says it plans to launch its own services next year to high-end passengers looking for premium travel within the Middle East.
Mr Hunt added: “There is nothing to buy any more because the CAA has now revoked all the licences.”
Hopes that Silverjet, which operated to Newark airport and to Dubai until it was grounded on May 30, will fly again have been reignited a few times as various undisclosed bids have been put forward. Irish-registered company Kingplace, which is managed by a Swiss trust, made a significant play for the carrier last week but failed when it failed to guarantee future aviation licences and the planes’ leases.
And just for the laughs, Silverjets CEO Lawrence Hunt...
Dinah Hatch
Last Updated: 5:08PM BST 18/06/2008
Lawrence Hunt, chief executive of Silverjet, says the failed airline is permanently grounded. Dinah Hatch reports.
Silverjet was grounded on May 30 after failing to secure funding
Failed all-business carrier Silverjet will not fly again, its chief executive Lawrence Hunt has told The Daily Telegraph.
Hopes were revived that the airline would take to the skies again after rumours surfaced that Middle East proposed carrier Arabjet had made a bid for the beleagured business-class carrier.
But Hunt has rubbished plans publicised by Arabjet to revive the London-Luton based airline.
“They are just a bunch of timewasters," he alleges. "We’ve been talking to them since February, providing business plans, but it never moved forward. They can’t even raise the £125,000 needed to secure negotiations with the administrators. They just do not have the funding.”
Arabjet’s website says it plans to launch its own services next year to high-end passengers looking for premium travel within the Middle East.
Mr Hunt added: “There is nothing to buy any more because the CAA has now revoked all the licences.”
Hopes that Silverjet, which operated to Newark airport and to Dubai until it was grounded on May 30, will fly again have been reignited a few times as various undisclosed bids have been put forward. Irish-registered company Kingplace, which is managed by a Swiss trust, made a significant play for the carrier last week but failed when it failed to guarantee future aviation licences and the planes’ leases.
And just for the laughs, Silverjets CEO Lawrence Hunt...
Paxing All Over The World
If the new employer doesn't know the inside track, then these "managers" go from job to job creating carnage.
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A query...
I will admit, I have always been an advocate of Silverjet, however, reading some of the information on here, I am intrigued about the legal implications regarding the redudancies...
Of the staff that were made redundant, approx. 200 were cabin crew, who, out of all the employees were the only people to not receive a salary at the end of May. (Office staff and Flight deck were contracted to be paid earlier in the month... and were!)
The co. enterred into administration, and the crew could not obtain any government assistance as we were not classed as unemployed or redundant. We were then called into the office to be advised by the administrators there and then that everyone was made redundant.
As the longest serving employees were with the company from November 2006, not one of us is entitled to statutory redundancy pay, and can only claim for unpaid salary, and perhaps part of our duty allowances...
Bearing in mind we are owed basic salary from 1/5/08 until 13/6/08, and flight allowances dating back to the 11/4/08, plus unpaid holiday, and pay in lieu of no notice given...
Are we entitled to make a legal claim? From what I understand the company has many creditors and investors which rank higher in the pecking order...
Is there anyone who could offer any advice to myself and my colleagues?
Any help would be greatly appreciated.
Of the staff that were made redundant, approx. 200 were cabin crew, who, out of all the employees were the only people to not receive a salary at the end of May. (Office staff and Flight deck were contracted to be paid earlier in the month... and were!)
The co. enterred into administration, and the crew could not obtain any government assistance as we were not classed as unemployed or redundant. We were then called into the office to be advised by the administrators there and then that everyone was made redundant.
As the longest serving employees were with the company from November 2006, not one of us is entitled to statutory redundancy pay, and can only claim for unpaid salary, and perhaps part of our duty allowances...
Bearing in mind we are owed basic salary from 1/5/08 until 13/6/08, and flight allowances dating back to the 11/4/08, plus unpaid holiday, and pay in lieu of no notice given...
Are we entitled to make a legal claim? From what I understand the company has many creditors and investors which rank higher in the pecking order...
Is there anyone who could offer any advice to myself and my colleagues?
Any help would be greatly appreciated.
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Best
Sorry for all you guys and girls.
Fuzzy memories of the last time for me in '04.
You are now an unsecured creditor for all outstanding payments due. The Administrators can/should be able to confirm this for you. You will receive payment in due course, but a long due course and it will most likely be pence in the pound. (I received £186 for entitlements outstanding of £5k after Government payments in my case, two years later and the holding Co had c2.4 million in the bank).
Industrial Tribunal
http://www.berr.gov.uk/employment/em...dress_in_cases
Do look there, again it is not a quick fix to the financial problems, but we won our case when the company went pop over night. (The Brum office listed were helpful so give them a call and explain your situ) or find a friendly union rep through a mate....
Again, good luck, find your feet as soon as possible one and all.
Fuzzy memories of the last time for me in '04.
You are now an unsecured creditor for all outstanding payments due. The Administrators can/should be able to confirm this for you. You will receive payment in due course, but a long due course and it will most likely be pence in the pound. (I received £186 for entitlements outstanding of £5k after Government payments in my case, two years later and the holding Co had c2.4 million in the bank).
Industrial Tribunal
http://www.berr.gov.uk/employment/em...dress_in_cases
Do look there, again it is not a quick fix to the financial problems, but we won our case when the company went pop over night. (The Brum office listed were helpful so give them a call and explain your situ) or find a friendly union rep through a mate....
Again, good luck, find your feet as soon as possible one and all.
Paxing All Over The World
Maybe, just, maybe thats not the way to make money. .......
This will take you to Page 50 of the main thread:
http://www.pprune.org/forums/showthr...325056&page=50
This is when there was hope of it restarting:
http://www.pprune.org/forums/showthread.php?t=330177
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These may bring back some wistful and poignant memories of what we will now all miss...
Silverjet The Movie:
http://www.youtube.com/watch?v=mUuir...eature=related
Silverjet Crew Training
http://www.youtube.com/watch?v=hIRDg...eature=related
Women Only Loos:
http://www.youtube.com/watch?v=yvtpm...eature=related
Silverjet The Movie:
http://www.youtube.com/watch?v=mUuir...eature=related
Silverjet Crew Training
http://www.youtube.com/watch?v=hIRDg...eature=related
Women Only Loos:
http://www.youtube.com/watch?v=yvtpm...eature=related