Silverjet
Encyclopedia
Silverjet was a British
all-business class airline
headquartered at London Luton Airport
, Luton
, Bedfordshire
, England
, that, prior to the suspension of operations on 30 May 2008, operated services to Newark Liberty International Airport
and Dubai International Airport
. A proposed rescue package fell through on 13 June when staff were laid off
and it was announced that the airline's assets would be sold.
. Prior to launch, the airline secured sufficient funding to begin trading on the AIM
, a market operated by the London Stock Exchange
, and joined the AIM on 12 May 2006. The airline secured two Boeing 767-200
aircraft in August 2006 that were previously operated by Thomsonfly
. These were delivered in March 2007 and October 2007 and were Silverjet's launch aircraft. With the acquisition of British Charter Flyjet
in October 2006, Silverjet took ownership of their two Boeing 757
and one Boeing 767 aircraft. This also provided Silverjet with Flyjet’s Air Operator’s Certificate, Operating Licence and a worldwide Route Licence.
Silverjet’s website, designed by Prospect
, began taking passengers' bookings for flights on 12 October 2006, for a standard fare of £999. Silverjet's first scheduled flight between London Luton and Newark began on 25 January 2007, and a second daily service on this route was launched on 23 September 2007. Services from London Luton to Dubai International commenced on 18 November 2007, and the airline planned to launch other long-haul destinations in the future, but this expansion was halted because of Silverjet's financial troubles.
At the beginning of May 2008, Silverjet stated that they had arranged an $8.4 million loan facility from Viceroy Holdings, a Middle Eastern investor. However, the airline was unable to draw down $5 million that it needed urgently, and, on 23 May 2008, trading of Silverjet's shares was suspended on the AIM. Later, on 30 May 2008, a statement was released from Silverjet's CEO that stated Silverjet would cease operations and suspend all flights with immediate effect due to failing to secure funding. The last operating flight, SLR254, arrived at London Luton Airport from Dubai at 15:00GMT on the day of the announcement.
On 10 June 2008, it was announced that Ireland-based Kingplace would purchase Silverjet on behalf of unnamed private clients. However that deal fell through on 13 June, Silverjet went into liquidation and made all 420 staff redundant. An announcement by Lawrence Hunt, chief executive of Silverjet on 19 June 2008 dismissed rumours that Arabjet would keep the airline in business and stated that Silverjet's fleet would be permanently grounded and that the airline would not fly again.
.
In an interview with the Financial Times
on 25 January 2007, Lawrence Hunt said: “It’s no use people just sitting around thinking about climate change and pretending it is someone else’s problem. That is what the airline business has done to date.”
In January 2007, Silverjet was awarded by The Institute of Transport Management
as “Environmentally Aware Airline 2007” in recognition of the stance the company has taken regarding carbon emissions.
Prior to the suspension of operations, Silverjet operated twice-daily flights between London Luton Airport and Newark Liberty International Airport, and a daily service between London Luton Airport and Dubai International Airport. Silverjet also operated cargo services between London and Newark that used the underfloor cargo capacity of their Boeing 767 passenger aircraft.
s, offered food, drinks, seating and free internet access to Silverjet passenger
aircraft. These aircraft were used, and had an average age of 19.5 years in June 2008.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
all-business class airline
Business class airline
A business class airline was an airline concept which emerged during the mid-first decade of the 21st century involving a number of airlines that operated all-business class services....
headquartered at London Luton Airport
London Luton Airport
London Luton Airport is an international airport located east of the town centre in the Borough of Luton in Bedfordshire, England and is north of Central London. The airport is from Junction 10a of the M1 motorway...
, Luton
Luton
Luton is a large town and unitary authority of Bedfordshire, England, 30 miles north of London. Luton and its near neighbours, Dunstable and Houghton Regis, form the Luton/Dunstable Urban Area with a population of about 250,000....
, Bedfordshire
Bedfordshire
Bedfordshire is a ceremonial county of historic origin in England that forms part of the East of England region.It borders Cambridgeshire to the north-east, Northamptonshire to the north, Buckinghamshire to the west and Hertfordshire to the south-east....
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
, that, prior to the suspension of operations on 30 May 2008, operated services to Newark Liberty International Airport
Newark Liberty International Airport
Newark Liberty International Airport , first named Newark Metropolitan Airport and later Newark International Airport, is an international airport within the city limits of both Newark and Elizabeth, New Jersey, United States...
and Dubai International Airport
Dubai International Airport
Dubai International Airport is an international airport serving Dubai, the largest city of the United Arab Emirates. It is a major aviation hub in the Middle East, and is the main airport of Dubai. It is situated in the Al Garhoud district, southeast of Dubai...
. A proposed rescue package fell through on 13 June when staff were laid off
Layoff
Layoff , also called redundancy in the UK, is the temporary suspension or permanent termination of employment of an employee or a group of employees for business reasons, such as when certain positions are no longer necessary or when a business slow-down occurs...
and it was announced that the airline's assets would be sold.
History
Silverjet Aviation Limited was created in 2004 by Lawrence HuntLawrence Hunt
Lawrence Hunt is an entrepreneur and was the founder and Chief Executive Officer of Silverjet Aviation Limited, a British-owned business-class airline. Silverjet suspended operations on 30 May 2008....
. Prior to launch, the airline secured sufficient funding to begin trading on the AIM
Alternative Investment Market
AIM is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market....
, a market operated by the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
, and joined the AIM on 12 May 2006. The airline secured two Boeing 767-200
Boeing 767
The Boeing 767 is a mid-size, wide-body twin-engine jet airliner built by Boeing Commercial Airplanes. It was the manufacturer's first wide-body twinjet and its first airliner with a two-crew glass cockpit. The aircraft features two turbofan engines, a supercritical wing, and a conventional tail...
aircraft in August 2006 that were previously operated by Thomsonfly
Thomsonfly
Thomsonfly was a British airline, previously known as Britannia and a business within TUI UK prior to September 2007. Following TUI UK merging with First Choice Holidays in September 2007 it became part of TUI Travel PLC...
. These were delivered in March 2007 and October 2007 and were Silverjet's launch aircraft. With the acquisition of British Charter Flyjet
Flyjet
Flyjet was a charter airline based at London Luton Airport, United Kingdom. It was a subsidiary of Silverjet, which is licensed for worldwide charter operations...
in October 2006, Silverjet took ownership of their two Boeing 757
Boeing 757
The Boeing 757 is a mid-size, narrow-body twin-engine jet airliner manufactured by Boeing Commercial Airplanes. Passenger versions of the twinjet have a capacity of 186 to 289 persons and a maximum range of , depending on variant and cabin configuration...
and one Boeing 767 aircraft. This also provided Silverjet with Flyjet’s Air Operator’s Certificate, Operating Licence and a worldwide Route Licence.
Silverjet’s website, designed by Prospect
Prospect (London design agency)
Prospect is a London-based design agency that creates service innovation through digital experiences. Founded in 2006 by Richard Eisermann and Anja Klüver, Prospect has provided innovation and design consultancy for Nokia Siemens Networks, Orange, Silverjet, bmi, Tesco, and Nestle among others. The...
, began taking passengers' bookings for flights on 12 October 2006, for a standard fare of £999. Silverjet's first scheduled flight between London Luton and Newark began on 25 January 2007, and a second daily service on this route was launched on 23 September 2007. Services from London Luton to Dubai International commenced on 18 November 2007, and the airline planned to launch other long-haul destinations in the future, but this expansion was halted because of Silverjet's financial troubles.
At the beginning of May 2008, Silverjet stated that they had arranged an $8.4 million loan facility from Viceroy Holdings, a Middle Eastern investor. However, the airline was unable to draw down $5 million that it needed urgently, and, on 23 May 2008, trading of Silverjet's shares was suspended on the AIM. Later, on 30 May 2008, a statement was released from Silverjet's CEO that stated Silverjet would cease operations and suspend all flights with immediate effect due to failing to secure funding. The last operating flight, SLR254, arrived at London Luton Airport from Dubai at 15:00GMT on the day of the announcement.
On 10 June 2008, it was announced that Ireland-based Kingplace would purchase Silverjet on behalf of unnamed private clients. However that deal fell through on 13 June, Silverjet went into liquidation and made all 420 staff redundant. An announcement by Lawrence Hunt, chief executive of Silverjet on 19 June 2008 dismissed rumours that Arabjet would keep the airline in business and stated that Silverjet's fleet would be permanently grounded and that the airline would not fly again.
Carbon emissions
Silverjet claimed to be the world's first "carbon neutral” airline. From launch all ticket prices included a mandatory carbon offset contribution to be reinvested in climate-friendly projects. In October 2007, however, their offset scheme was altered to give customers the choice on whether to accept the recommended carbon offset after the United Kingdom doubled the Air Passenger DutyAir Passenger Duty
Air Passenger Duty is an excise duty which is charged on the carriage of passengers flying from a United Kingdom airport on an aircraft that has an authorised take off weight of more than ten tonnes or more than twenty seats for passengers...
.
In an interview with the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
on 25 January 2007, Lawrence Hunt said: “It’s no use people just sitting around thinking about climate change and pretending it is someone else’s problem. That is what the airline business has done to date.”
In January 2007, Silverjet was awarded by The Institute of Transport Management
The Institute of Transport Management
The Institute of Transport Management is a non-profit organisation founded in the United Kingdom in 1977 to aid in oversee and reform the standards in the transport industry...
as “Environmentally Aware Airline 2007” in recognition of the stance the company has taken regarding carbon emissions.
Destinations
- United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
- LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
(London Luton AirportLondon Luton AirportLondon Luton Airport is an international airport located east of the town centre in the Borough of Luton in Bedfordshire, England and is north of Central London. The airport is from Junction 10a of the M1 motorway...
)
- London
- United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
- NewarkNewark, New JerseyNewark is the largest city in the American state of New Jersey, and the seat of Essex County. As of the 2010 United States Census, Newark had a population of 277,140, maintaining its status as the largest municipality in New Jersey. It is the 68th largest city in the U.S...
(Newark Liberty International AirportNewark Liberty International AirportNewark Liberty International Airport , first named Newark Metropolitan Airport and later Newark International Airport, is an international airport within the city limits of both Newark and Elizabeth, New Jersey, United States...
)
- Newark
- United Arab EmiratesUnited Arab EmiratesThe United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
- DubaiDubaiDubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
(Dubai International AirportDubai International AirportDubai International Airport is an international airport serving Dubai, the largest city of the United Arab Emirates. It is a major aviation hub in the Middle East, and is the main airport of Dubai. It is situated in the Al Garhoud district, southeast of Dubai...
)
- Dubai
Prior to the suspension of operations, Silverjet operated twice-daily flights between London Luton Airport and Newark Liberty International Airport, and a daily service between London Luton Airport and Dubai International Airport. Silverjet also operated cargo services between London and Newark that used the underfloor cargo capacity of their Boeing 767 passenger aircraft.
Private terminals
Silverjet was the only airline to offer a private passenger terminal at London Luton Airport. The airline also had a private check-in area at Newark Airport located in the Arrivals area and separated from the other check-in desks, and used the executive terminal at Dubai International Airport for arrivals and departures. Silverjet's private terminal at Luton and private check-in area at Newark also housed the airline's Silver Lounge, and like most airport loungeAirport lounge
An airport lounge is a lounge owned by a particular airline . Many offer private meeting rooms, phone, fax, wireless and Internet access and other business services, along with provisions to enhance comfort such as free drinks and snacks...
s, offered food, drinks, seating and free internet access to Silverjet passenger
Fleet
Silverjet's fleet consisted of three Boeing 767-200(ER)Boeing 767
The Boeing 767 is a mid-size, wide-body twin-engine jet airliner built by Boeing Commercial Airplanes. It was the manufacturer's first wide-body twinjet and its first airliner with a two-crew glass cockpit. The aircraft features two turbofan engines, a supercritical wing, and a conventional tail...
aircraft. These aircraft were used, and had an average age of 19.5 years in June 2008.
Awards
- Best Executive Transport - Esquire Man at The Top Awards 2007
- Best Airline 2007 - Sunday Times Travel Magazine Experts Awards 2007
- Winner Aviation Category - Condé Nast Traveller Innovation and Design Awards 2007
- Environmentally Aware Airline 2007 - The Institute of Transport ManagementThe Institute of Transport ManagementThe Institute of Transport Management is a non-profit organisation founded in the United Kingdom in 1977 to aid in oversee and reform the standards in the transport industry...
2007
External links
- Silverjet (Archive)