You are here: Home News SilverJet administrators still talking to buyers

PRINT THIS PAGE

SilverJet administrators still talking to buyers

Begbies Traynor, the firm of administrators handling failed business-class airline SilverJet, said on Monday it was still talking to possible buyers.

Talks to buy SilverJet  by Kingplace, an Irish-registered company managed by Swiss trust and management company Heritage, collapsed on Friday as the potential buyer couldn't confirm guarantees of a future aviation license and the continuation of the lease of the airlines' three planes, one of the administrators told Reuters.

SilverJet made its 420 employees redundant on Friday June the 13th

"There were complications with the purchase, with the deadline. It wasn't the money, but the lack of visibility" in certain aspects, said Nigel Atkinson, one of the administrators.

"A sale is still possible, but there's no certainty. We are talking to them and to other people as well."

ArabJet, a planned premium class airline based in Dubai, is also interested in buying SilverJet, a person familiar with the situation told Reuters.

However, a deal is more difficult as time goes by, following the staff redundancies at the company's centres in London, New York and Dubai, Atkinson said.

"The more time that goes by, the more difficult it will be to reach a sale of any kind," Atkinson said. "If anything needs to happen, it has to be in the next week, if it happens at all."

Luton-based SilverJet collapsed into administration last month amid low demand, U.S. economic woes and record fuel prices.