SilverJet: And the Hits Just Keep on Coming

Feb 12th, 2008 | By Jared Blank

Two pieces of bad news for SilverJet (and passengers who like the airline):

1) Eos’ announcement that it’s launching Dubai flights sent SilverJet’s stock reeling yesterday, down as much as 23% as investors believe that the struggling carrier won’t survive a drawn out fight with another airline.

2) A company that lent SilverJet GBP10 million last year has declined to convert the loan into equity (not a good sign) which, in English, means that SilverJet will be forced to continue paying interest on the loan — a rough call given their precarious financial situation.

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