Begbies hopeful of Silverjet buyer by end of week

Begbies hopeful of Silverjet buyer by end of week

Begbies Traynor partners Nigel Atkinson and Mark Fry have been named joint administrators for business class airline Silverjet and hope to find a buyer this week

Fry confirmed that there were three or four seriously interested parties in
the AIM-listed business. Fry said: ‘It is likely there will be a buyer by the
end of the week.’

Silverjet chief
executive Lawrence Hunt blamed the company’s woes on City analysts rather than
the rising price of oil.

‘When you have analysts who know nothing about our business writing what they
write, it becomes self-fulfilling,’ Hunt said. ‘It’s the analysts who have
killed us. I estimate we have lost £7m of sales in the past six months because
of negative statements by analysts.’

Silverjet had a deal with Viceroy Holdings to inject $25m (£12.7m) into the
company, but the airline got into difficulties at the end of May when it
announced it had yet to receive the first $5m tranche.

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