BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Silverjet Rip

Market Movers

by Felix Salmon
Main
CDOs Return   Extra Credit, Friday Edition

Recent Blog Posts

Links

May 30 2008 12:00am EDT

Silverjet, RIP

Another airline bites the dust: this time it's Silverjet, the all-business-class airline: it lasted just a few months longer than MaxJet. The official statement from Silverjet is pathetic, in the literal sense of the word:

We extend our sincerest apologies to those of you who have travel plans with Silverjet in the future and at present. You are advised to seek alternative travel arrangements with other carriers, and contact your credit card company or travel agent directly for information on obtaining refunds.
We are working actively with new investors who are prepared to inject new funds so we can recommence operations. If we are able to achieve this, we will make an announcement as soon as possible and we hope to be able to bring you our very 'sivilised' flying experience again.

This is yet another lesson that airline tickets should be booked with a credit card - it's the only realistic way of getting a refund if the airline goes bust.

I'd put the chances of Silverjet managing to "recommence operations" at roughly the same probability as the chances of oil falling back to something below $75 a barrel.

In terms of all-business-class airlines, this leaves Eos as the sole carrier on the key London-New York route that's it for the New York-London route: Eos folded last month. Only L'Avion, flying New York-Paris, remains. (Thanks to Joe Brancatelli for the reminder, I'd forgotten.)

blog comments powered by Disqus
Real Business, Real Results
Out of the 'Family'

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Cruz Missile Lands

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Scandal Chic

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More