Silverjet forced to admit to bid talks

Shares in Silverjet, the business-class only airline, soared 43 per cent to
21.75p after it said it was in takeover discussions after receiving a bid
approach.

It did not name its suitor. EasyJet has been rumoured as a potential predator
since Silverjet appointed Amir Eilon, a former board member of EasyJet and a
close friend of easyJet’s founder Stelios Haji-Ioannou, as a non executive.

However, a move into business class only flights would be a change of strategy
for easyJet whereas British Airways might be more interested since it has
already announced plans to launch business class only flights to New York
next year from London City airport, using two A318s. Singapore Airlines will
launch all-business-class flights to Los Angeles and New York from Singapore
next month.

Silverjet, which operates out of Luton and flies to New York and Dubai became
vulnerable after it missed its target to reach break even by last month.