16 June, 2008: An attempt to rescue all business class carrier Silverjet has failed and all 420 staff have been made redundant.

A deal with prospective purchaser Kingplace, signalled by the carriers administrators last week, collapsed on Friday.

Joint administrators Nigel Atkinson and Mark Fry of Begbies Traynor said that as a result of "unusually complex negotiations with third parties" Kingplace was no longer able to acquire Silverjet as a going concern.

"We are extremely disappointed to have had to make these redundancies which we had been working to prevent.

"We continue to negotiate the sale of Silverjets assets for the benefit of the companys creditors and will provide an update as soon as we are able."

The Luton-based carriers CEO Lawrence Hunt had been confident of winning backing from a long term invstor to relaunch the airline on services to New York and Dubai.

But todays news suggests that there is now little chance of Silverjet ever flying again, despite strong support from the travel trade and passengers for the concept.


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