30 January, 2007

Silverjet Awarded Carbon Neutral Airline of the Year Award 2007

Silverjet, the first British exclusively business class carrier and the worlds first carbon neutral airline has been awarded Environmentally Aware Airline 2007 by the Institute of Transport Management (ITM).

The airline successfully launched on Thursday 25th January 2007 and included in the price of the ticket, typically 999 return to New York, is a mandatory carbon offset contribution, giving customers the opportunity to reinvest Carbon Points into a number of climate friendly projects around the world. The scheme is being set up in partnership with leading climate change consultants the CarbonNeutral Company and it has been developed in accordance with the CarbonNeutral Protocol, the leading standard and quality mark for action on climate change.

An example of the Verified Emission Reduction that Silverjet customers will be supporting is a solar panel programme in India, where solar panels replace kerosene burners (the carbon-heavy but cheap fuel of choice).

Silverjet has called upon all airlines to become carbon neutral and the Government to support Verified Emission Reduction projects. If the industry was to simply charge its customers 90 pence for each hour they fly on average, then they could neutralize the carbon pollution created by the aviation industry.

The ITM strongly believe that all transportation companies, especially airlines must now act responsibly and make serious strides to combat climate change by neutralizing carbon emissions.

Lawrence Hunt, CEO of Silverjet, said:

An award for any airline so soon after launch is admirable, but recognition for the hard work we have put into our carbon offset programme is remarkable, we are delighted. The ITM have highlighted for us the emphasis that we feel all airlines should be putting on the vital offset programme for carbon emissions, by including the cost of the programme into our ticket price.

Our scheme is motivational for the customer and not a penny of the money we donate goes to bureaucracy, a point that we feel very strongly about.


Our launch last week was a complete success; our customers have been whisked through our 30 minute check in and boarding, sleeping like logs in our 63 flat beds and enjoying our world class in flight Silver Service. The feedback has been beyond our expectations.

Looking forward, we will launch our second daily London Luton to New York Newark flight in July this year and are committed to a third daily service by the end of the year. We are also planning further long-haul route opportunities in 2008.

Patrick Sheedy, Media and PR Director for the ITM, said:

Silverjets carbon offsetting scheme is particularly effective as it is included within the fare, allows customers to earn carbon points which will engage them in this important global issue and is independently managed by one of the worlds leading carbon neutral companies. This is the first time any air carrier has taken a strong proactive approach to the accountability for air pollution generated by the Aviation Industry.

It is most encouraging to see an airline provide such consideration to the environment. The ethos of Silverjet is to be admired and imitated by the next generation of airline carrier. The Institute is delighted to recognize Silverjet in this way, and welcomes them to the awards table.

Silverjet is resilient in this storm

I spoke too soon...


Silverjet to end subsidiary Flyjet's charter services from end-October - AFX


LONDON (Thomson Financial) - Business class airline Silverjet said it will end charter flights operated by wholly-owned subsidiary Flyjet Ltd at the end of October, when the charters on its two Boeing 757 aircraft expire, because of weakness in the package-holiday charter market.

Silverjet bought Flyjet last October, securing the use of a leased Boeing 767-200 at below current market rates, which it used to launch commercial business-class flights to New York.

In addition to the Boeing 767 aircraft, Flyjet said it leased two Boeing 757 aircraft until Nov 2007 and Jan 2008 respectively, which are chartered to various tour operators until Oct 2007.

Silverjet said it is focused on its core business class service and sees 'insufficient returns' from continuing to offer a service in the charter market.

It estimates that the cost of withdrawing from the charter business will be approximately 300,000 stg in addition to the cost of aircraft C-checks required on the scheduled return of the Boeing 757's to the leasing company.

paul.sandle@thomson.com

Risky business investing in airlines. Warren Buffet always says that.

silverjet could be a good buy at moment cheapp for sure, focusing onthe business flights seems to make silverjet more cash possibly

Picking a price to buy in at will be a tough task Argos, was looking at these after the 20 - 30% fall a few days ago but am glad i didnt buy in, see today another 20% fall.
will watch and wait.

comment, click HERE

Silverjet cancels Flyjet charter flights, shares retreat
Wednesday, August 8, 2007, 09:05 AM
Silverjet (AIM: SIL), the long haul business class airline fell 20.8% this morning after announcing that it would terminate the leases on two Boeing 757 aircraft that it had secured through its subsidiary Flyjet.

Silverjet originally acquired Flyjet to expedite the process of launching its first route between Luton and New York, as Flyjet already had all the necessary licences and certificates to operate flights worldwide and one Boeing 767-200. Since acquiring Flyjet, the group had leased an additional two Boeing 757's which it had chartered to tour operators until October 2007. However, due to challenging conditions in the chartered flight sector, the two aircraft leases would not be extended, and therefore the charter contracts terminated at a cost of at least 300,000 to Silverjet.

Shares in Silverjet were already in retreat after the company recently announced the delay of the launch of its second daily flight for Luton to New York.

Since listing at 120 pence last year, shares in the ambitious airline have reached as high at 200 pence just a few months ago, only to fall back to 87.5 pence today.

Closed 48.5p at the end of 2007

The chart is a disaster..following in the steps of Maxjet I reckon.

agree mitzy but i think passenger figures for december will be better after maxjet disaster.

Maxjet was just as promising,they issued an upbeat rns then went BUST!!

The maxjet disaster will benefit eios not silverjet,be carefull.

35p after Daniel Stewart's views...


Daniel Stewart initiated coverage on Silverjet with a 'sell' rating and zero pence price target, saying it doubted the group's business model.

The broker claimed the group's business model doesn't work and said it doesn't think it ever will. It also forecast that Silverjet would eventually run out of cash.

No other broker or analyst has yet stepped forward to disagree with that devastating assessment.

The company did!!!
( Company refutes many points on the Broker-note)

And - - this alone apears to have raised the sp 15% - but says nothing about shareholder-value or long-term effects if Oil was to rise - although this would afect their rivals also.
I've not read much about Silverjet ( maybe I don't move in the right circles!), and worry that they claim their trips are 1000 against 3000 for rivals - surely a discount would be enough, particularly if it was connected to a discount user-reward [like Air-miles?] would give further discounts in any 12-months. Or topless cabin-crews - now, that would grab men's attention during Satety-Drill, eh?

However, one cannot ignore a Broker note that is so damaging, although it would give one greater confidence (in the promised failure!), if they got their facts right ( a small error is forgivable, but this nearly looks like carelessness!). Oh dear.
Furthermore one should not ignore WB's remarks . . . . . yet Virgin appears OK. . . .

Has anyone (here) flown Silverjet, as an ordinary paying-passenger?

NMS is only 1000, but tempting short nevertheless even if there are reports that these private airlines are becoming pretty popular - not to be confused with profitable!

Be very carefull with this one,
Ba now to offer London city to new york will put further pressure on this longhaul embrio.

BA say flights from London City Airport wont start till 2009 and they will be using a 32 seat aircraft. Hardly likely to generate a massive surge in sales!

32 premium flat beds,it will be a winner.

Silverjet Jan revenues seats 8,729, sees 1st monthly pretax profit in March 08 - AFX


LONDON (Thomson Financial) - Silverjet said it flew 8,729 revenue seats in January, which, although representing the business class airline's 11th successive month of growth, fell short of company expectations.

The Luton-based airline, which launched on Jan 25, 2007, said its load factor in January was 54 pct, against 52.8 pct in December.

The company said forward bookings are unlikely to make-up the shortfall in growth in the period between November's placing of 20 mln new shares, raising 12 mln stg, and the end of March.

'Whilst we expect the group, in terms of operating cashflow, to absorb cash between the placing and 31 March 08, the board continues to be confident that Silverjet will achieve its first month of pretax profit and be cash generative in March 08,' it said in a statement.