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.

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!

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.

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.

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.

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.

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.

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?

Does anyone know whether the Fleet were OWNED by Silverjet or LEASED via a bank or a leasing company ?

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.

http://www.telegraph.co.uk/travel/tr...27s-hands.html

http://www.telegraph.co.uk/travel/tr...executive.html

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.

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.

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.

http://www.telegraph.co.uk/telegraph...04_679976c.jpg
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...


http://www.dressedtokilt.com/img/ny2...ures/hunt2.jpghttp://www.dressedtokilt.com/img/ny2...ures/hunt1.jpg

Hunterboy

You might say that, but I, couldn't possibly comment.;)

It's the same in any biz. I have seen folks in the IT world sailing in with the management proud of their new acquisition and within a month the staff know that the new boy hasn't a clue. It usually takes the senior mgmt another 12/18 months to find that out - possibly longer if the new boy is a good political operator. Of course, the senior mgmt may ALSO not have a clue. :rolleyes:

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.

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.

Maybe, just, maybe that has been discussed in PPRuNe in a long (combined) thread running in Airlines, Airports & Routes.

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

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

:ok:

Ancient Observer:8

Beston Board.... you were such a supporter of Silver Jet?

Enough is enough !! And I must admit I was one of those twats too,
who said I told you so and as Tightslot was really right, I put a really nasty post on here and to be honest I was really in the wrong. People have lost there jobs.

Please let's move ....

Peace ;)

Silverjet was unlike anything else...
 

Noneatall...

I had every faith in Silverjet, and will hold my hand on my heart to this day and say that it was an amazing company, an amazing product, and had the most fantastic people working for her...

The experience I gained, the lessons I learned, and the lifestyle I led are now gone...

In a different thread, you accused me of being brainwashed... I believe the word 'cult' was mentioned... A cult is a social organisation with beliefs and values that are different to the mainstream, and compared to normal social values are perceived as extraordinary... and extreme.

If you speak to a member of Silverjet that truly believed in what we were able to achieve, they would have battled... tooth and nail to ensure her survival, but unfortunately matters were completely out of our control.

My concern is now for my colleagues and the silver family that were the face and image of the airline. Having researched some history into what our entitlements could be, if we receive anything, it will be very little... if anything at all.

Of course, as an individual I have to think of myself too. I know there are so many in the same situation, but losing my home, a great deal of friends, and a way of life I had become accustomed to, I would like to know what support the cabin crew have.

To ask questions and draw from the experience of those who have suffered through similar situations is not disrespecting the Silverjet brand and concept... I merely wish to fight for what is rightfully ours, and to ensure that all the exceptional Silverjet crew can fly with their own wings again... with confidence, and with pride.

I had to re-book with BA for flights the same days as I would have flown with Silverjet. I did the booking on 30th May when Silverjet went into Administration.

I looked at Virgin Atlantic too, but BA had the edge...just.

It cost me more to fly economy outbound and club world inbound than both ways business class with Silverjet, but I had got a special deal with the latter so couldn't really complain.

My eldest son who lives in Australia has been following our trials and tribulations and briefing us with detail that we might have missed ourselves from his own trawling on the internet.

He advised me yesterday to input the same dates and flights with BA now; the cost for anyone booking yesterday has risen by 38%!!!

Since I am dumbstruck, does anyone have any comments to make?:(

Air travel will soon become too expensive for the average punter! :ouch:

annnee
 

You've made 29 posts, all in some way connected with Silverjet. Even if you are (were) not an investor in the airline, you must at least by now be an expert on the N. Atlantic travel market.

So what are you dumbstruck about? That the going rate for a July seat is 38% higher on 21st June than on 30th May? That's called revenue management, my dear. Sort of supply and demand stuff like at the local fruit market. Both perishable products.

P.S. can anyone comment on whether Silverjet had an effective revenue management system in place? Thanks.

Ooh...bit caustic there, Dysag...and extremely patronising to boot.

I am no expert on Atlantic travel, nor am I an investor of any company...I am merely a future traveller who has experienced more upheaval than most with their plans due to the demise of my original travel provider.

I don't know if you consider that flights costing me £1,534 on 30th May now cost £3,996 some three weeks later is not cause to be dumbstruck. Or whether you would defend such extortionate practise because their main competitor is now out of the picture...or even if you work for the airline concerned.

It seems that the very worst of capitalism is rearing its ugly head once they have the monopoly.

Non competitive price-fixing between those left to provide the service maybe?

Annee, you can always pack up and move to China. This is capitalism, simple supply and demand, don't like it I can give you the phone number of the rice paddy planters association.

I had no idea that this forum was so politically driven by some. And that instead of reasonable debate and comment, those same people descend to making personal remarks.

I ask if this is the acceptable face of capitalism and am told to move to China - how puerile is that? No better than a school playground with the same bullying tactics.

And this from supposed, mature adults? :=

So tell me...is this price mark-up defensible in your opinion?

Absolutely annee, the airline is in business to make a profit not to take you to your destination at a subsidised fare, and if you don't like the price of BA call me for a quote on a 604 or GLEX then you will find out what true capitalism means.

Depends Anneee are you looking at exactly the same flight? If so the flight might be full leaving only the most expensive seats. Also lets not forget we are coming into the summer season now which has traditionally meant that seat prices go up to reflect the greater demand.

As many poster have said this is avtive revenue management. Im sure your beloved silverjet didnt sell all their seats at 999 or whatever it was. Only a small percentage of overall seats would have gone for that price the rest would have gotten progressively more expensive.

You do realise that in the current market of high oil prices that all airlines are jacking up prices to cover increasing costs. Unfortunately silver jet didnt do it as well and has folder. This will be survial of the fittest.

PS fuel furcharges to australia through JAL are now running at 1000 AUD or about 440 pounds. Times are changing!

Yes, it's exactly the same flights. Additionally, when I booked I was able to have my desired seats assigned to me there and then, such was the availability.

It is unfortunate that I can't make a reasonable observation of a mark-up of £2432 on a fare that three weeks ago cost me £1534 - an increase of 258% and not 38% as previously mentioned - without sarcastic comments for other posters.

Now why would an airline nearly treble their price in such a short space of time.

Can someone give me an unbiased and logical reason, apart from my own feeling that it is opportunism at its worst?

I don't want to see any ad hominems, rather reasonable justification please.:)

annnee
 

Depends on how the ticket sales go. If they had a big uptake at the cheaper prices, then as the flight starts to sell out, up the prices.

This horse, as well as its reincarnation, has been well kicked and is truely dead.

Should former employees need to pass on information regarding collection of wages owed and such please post in the Terms and Endearment forum.

Silverjet - Relaunching???
 

Any substance to the rumour that Silverjet is going to rise from the ashes?:D

Wrong time, failed business model.

Sure you're not confusing it with Silver Air?

Saw the silverjet 767 dept juba a few days ago..seems like they back in the air..

Change of ownership
 

The silverjet B767 is now owned by Jordan Aviation. they just have not changed the livery yet.