Swiss investment firm to buy British airline Silverjet: administrators

0 Comments | AFP, June, 2008

LONDON (AFP) — A Swiss investment group has agreed to buy Silverjet, the British small business-class airline that was grounded last month, administrators said Wednesday without revealing the price.

Kingplace, an Ireland-based company managed by Heritage Cie SA, a Geneva-based investment company, was expected to complete the purchase on Friday, administrators Begbies Traynor said in a statement that confirmed recent media reports.

"Principal terms have been agreed with Kingplace Ltd. to acquire and relaunch Silverjet, subject to contractual completion which is expected by 13 June 2008," Begbies Traynor said. The deal was also subject to regulatory approval.

Silverjet, which flew from London to New York and Dubai, was forced to suspend its operations last...