Silverjet announces multi-million pound cash injection
Silverjet announces multi-million pound cash injection
Business class-only airline Silverjet is close to securing more than £12 million worth of funding which it hopes will allow it to continue its domination of the market.
The provider has agreed a loan of up to £8.4 million with US and United Arab Emirates-based development fund Viceroy.
It also aims to raise a further £4.3 million by selling stocks to the fund, although this needs to be approved by current shareholders.
Lawrence Hunt, chief executive of Silverjet, said: "This 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."
He added that Viceroy is committed to the expansion of Silverjet and could inject more cash in future.
Meanwhile, the firm has announced its passenger and traffic statistics for April.
They show that 10,594 people flew with the airline last month, a figure which Mr Hunt described as "good". He also believes that the figures will improve further in May.
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6 May 2008
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