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Desperate Measure Of The Day Silverjet Edition

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by Felix Salmon
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Sep 11 2008 1:28pm EDT

Desperate Measure of the Day, Silverjet Edition

Tracy Alloway reports on how Lawrence Hunt, the CEO of Silverjet, paid for fuel expenses in the airline's final weeks:

Hunt's solution was to put fuel expenses on his personal credit card while the company waited for its next round of investment to come through. That's about £20,000 per flight, three roundtrips a day, for a couple of weeks - a sizeable amount.
The siver lining? Hunt was using a card that rewarded him with British Airways air-miles.

Sizeable is right: by my calculations it works out to about $3 million. That's some credit limit Hunt has!

(HT: David Sunstrum)

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