Swiss investors acquire ailing Silverjet

SilverjetSilverjet, the beleaguered business-class only airline, has been acquired by Swiss investment group Heritage just over a week after it went into administration.

Heritage completed the deal through Ireland-based investment vehicle registered, Kingplace, and is understood to have paid a nominal price for Silverjet. Heritage plan to relaunch the airline’s services.

It is unclear whether Silverjet chief executive Lawrence Hunt will remain with the company.

The airline went into administration on May 30, after collapsing with £40m in debts. It has blamed record oil prices for its slide into financial problems.

It is not known who the private financiers behind Heritage are, but is thought they will have to inject £30m into Silverjet.

Silverjet is based at London Luton Airport and was founded in 2004 by Hunt. Silverjet offers daily flights from Luton to Newark and Dubai.

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