Airline Maniac

Less than two weeks ago, Silverjet abruptly halted operations and stranded hundreds of travelers. Due to cash flow problems, Silverjet no longer had any money left to continue operating flights.  Despite their shutdown, the luxury airline stated that they would be back in the air as soon as they received a rescue package. Analysts never thought they would come back, however.

To the surprise of almost everybody, on June 10, Silverjet announced it had found a company that would back it financially. Kingplace, the funding company, will acquire them in the process. It is currently unknown what will happen to the airline’s current administration.

Kingplace hopes to relaunch Silverjet as soon as possible.

The Trans-Atlantic luxury carrier known as Silverjet has left the building. In other words, they have stopped flying. According to Silverjet, they could be back in the air if they receive a rescue package quickly. That rescue package would need to be more then 5 million dollars thick. Most everyone agrees that the chances of them getting that loan are slim to none. With the current economy, many investors are staying away from airlines.
With only one of the four luxury Trans-Atlantic airlines still in buisness, it seems as though the luxury airline concept was a complete failure. L’Avion, the last remaining airline with the luxury concept, states that it currently has “a prudent approach”. Hopefully L’Avion is right, as they are the last example of a Trans-Atlantic luxury airline.