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You Will Have SilverJet to Kick Around Anymore (Probably)

(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.)

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