$25 million cash injection keeps Silverjet flying
LONDON, England (CNN) -- Business class airline Silverjet has found a Middle Eastern investor to pump $25 million into the struggling group.
Shares in the airline climbed 26 percent after Silverjet said it had signed a memorandum of understanding with an unnamed investor from the United Arab Emirates.
The company said up to a further $75 million had also been pledged under the deal. [Full Article]
Ladies and gentlemen, this is your captain speaking. We have a small problem.
All four engines have stopped. We are doing our damnedest to get them under control.
I trust you are not in too much distress. —Captain Eric Moody, British Airways Flight 9
The clock is ticking....
ATP MEL, Commercial Pilot ASEL & ASES, CFII
Instrument Airplane
CL-65, ATR-42, ATR-72, LR-JET, LR-60
AGI & IGI
http://www.airliners.net/search/photo.s ... entry=true
Well done, gives them a bit of a lifeline (and more of an anchor in the hot Dubai market), but then again, the Qataris' 24% stake in Eos couldn't save them so yes -- clock is still ticking, this just buys more time.
Anyone know if there is a foreign ownership limit for UK airlines? I think Singapore owns 49% of Virgin Atlantic but not sure if that is due to government restrictions.
Could a 757 do JFK-Dubai non stop?
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