Europe
Be Prepared: Warning Signs Point to Silverjet’s Demise
The all-Business Class segment has been anything but stable, with MaxJet and Eos succumbing to market pressures earlier this year. Today, niche-survivor Silverjet has suspended trading of its shares on the London Stock Exchange. The question many are asking: Can the airline’s collapse be far behind?
Silverjet claims it’s conducting business as usual; no flights have been cancelled and it’s still taking bookings. Yet, to its credit, it’s making no effort to conceal its dire economic straits. The airline secured a much-needed commitment of $25 million in funding in April, but as yet the cash hasn’t materialized, forcing Silverjet to suspend its share trading to avoid a possible nosedive in stock value.
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We hope Silverjet can weather this storm and continue to offer its increasingly unique service. However, we can’t deny that traveling with them carries an element of risk.
To avoid getting stuck holding the proverbial bag, be sure to book your flights using a credit card that offers a no-hassle refund policy, and consider purchasing flight insurance.
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