You Will Have SilverJet to Kick Around Anymore (Probably)
Apr 30th, 2008 | By Jared Blank(Thanks to Sean for the heads up…)
Silverjet, which many predicted would be shutting down shortly, says that they have signed an agreement for a $100 million investment ($25 million now, $75 million later) from an unnamed source in the United Arab Emirates (the UAE is so flush with cash that people there think it’s a great idea to throw $100 million at the airline industry right now). I’m guessing that Silverjet’s finances look something like Eos’ finances before their shutdown, so that $25 million will last them through, oh, the end of the summer.
Unlike its previous pronouncements that everything is just perfectly A-OK, their chief executive admitted that they were running out of cash and that if this deal falls through they would need to seek “alternative means of funding as a matter of urgency” (ie, we have no money.)