BusinessBusiness RecoveryBegbies lands Silverjet administration

Begbies lands Silverjet administration

Begbies Traynor has been appointed administrators to business class airline Silverjet

Begbies Traynor has been appointed administrators to business class airline
Silverjet.

Nigel Atkinson and Mark Fry of Begbies Traynor were appointed joint
administrators with an overall aim of selling the business on Friday.

Silverjet announced at the end of May that it had yet to receive the proceeds
of the $5m drawdown request made under its loan facility with Viceroy Holdings
LLC the loan being a matter of urgency. The airline also recently announced that
its working capital reserves were low.

Fry said: ‘A number of interested parties have already been in contact, ahead
of our appointment as administrators, and we are confident of achieving a sale
given the attractions of the Company. Silverjet’s increasingly strong
operational performance, award-winning customer service, and positioning as the
last business class only transatlantic airline operator, underpin its potential
given adequate funding.”

Begbies are requesting interested parties to contact them immediately.

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