Silverjet today said its administration firm has agreed to the "principal terms" of a deal from an Irish holdings company to acquire and resurrect the all-business class carrier, which ceased operations last month amid drying capital.
Working through administrator Begbies Traynor, a corporate rescue firm, Silverjet said it expects to complete the contractual terms with Ireland-based Kingplace Ltd. by June 13, with hopes of a speedy relaunch of service on its Newark-London and London-Dubai routes.
"I am personally delighted that we now have the necessary backing from a long-term investor to relaunch Silverjet," Silverjet CEO Lawrence Hunt said in a statement today. "We have received fantastic support from our staff, customers and partners in helping us put this deal together. We will be working around the clock to launch our New York and Dubai services as quickly as possible and we will make an announcement about the date for relaunching our services in due course."
Silverjet on May 30 ceased operations after a year and a half of service. It was the last carrier filling the all-business class niche on the New York-London route after the recent folding of Eos and Maxjet
(BTNonline, May 30). The carrier earlier last month gained what looked like a $25 million lifeline from United Arab Emirates-based Viceroy Holdings, but on May 23 said it had yet to receive the initial installment of that cash infusion, forcing its hand to halt service, the company said.
Since grounding its planes last month, Silverjet clung to the possibility of a rescue and resurrection, which the carrier said remains subject to regulatory approval.