Silverjet On Track For Low-Fare Business Airline

November 22, 2006

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Britain's Silverjet said it remained on track to launch its low-fare business class airline in January as it unveiled maiden results.

"We gave an undertaking to our investors that we would launch operations within nine months of our IPO and we are on track to beat that target," Chief Executive Lawrence Hunt said in the results statement on Wednesday.

The first flight from London's Luton Airport to New York Newark Airport is planned for January 25, 2007.

"Our web site and reservation system went live in October and I am pleased to report that to date bookings have exceeded our expectations," Hunt added.

The company reported a pretax loss of GBP1.06 million (USD$2 million) for the six months to September 30.

(Reuters)