Silverjet Financial Woes Threaten Airline

Back in December 2007, MAXjet Airways suddenly quit flying stranding or inconveniencing thousands of passengers who booked flights with the airline. MAXjet was one of three airlines flying between New York and London, with aircraft dedicated to serving business class customers.

EOS Airlines

and Silverjet

are the two remaining air carriers in the mix and now it appears that Silverjet is running into financial difficulties as well. Bloomberg News

is reporting that the airline was only able to fill 54% of its seats for the month of January, well below the amount the air carrier needs (64%) in order to turn a profit.

Silverjet began flying in January 2007 and has promised to begin to turn a profit by March 2008. However, high fuel prices are impacting the airline and the airline’s stock value has dropped as much as 80%. Established air carriers including British Airways have vowed to match Silverjet’s service, putting added pressure on the airline.

In light of this news, CabinManagers is cautioning applicants who are considering employment with Silverjet at this time. Until the airline’s financial picture improves we cannot encourage you to seek work with Silverjet right now.

Please bookmark this page to track additional updates for Silverjet. Subscribe to a feed and register with the blog to keep tabs on all CabinManagers updates.

7 thoughts on “Silverjet Financial Woes Threaten Airline”

  1. Next month is when Silverjet say they’re going to go into profit so worth looking again then. Also they are starting new routes then with new long haul 767s arriving. Shanghai, LA, San Fran have been mentioned but don’t think the new routes are finalised yet.

  2. Thank you for your comment, Cory. Silverjet is still in a precarious position until they start to make some money. New routes sound good, but they have to fill those seats and strengthen their bottomline.

    I’ll be keeping an eye on this airline and reporting back in when things change.

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