Record month for business class airline

Dubai Palm Island

[2nd April 2008]

Business class only airline Silverjet has reported an impressive 23% increase in passenger numbers in March on flights from Luton airport to New York and Dubai.

The airline sold 10,885 of 16,800 available seats in March, compared to just 8,829 in February, giving a total load factor of 65%. It also reports that 81% of flights took off on time.

"We are delighted to report another record month of passenger statistics with all three of our daily flights increasing again. March gave us our highest ever monthly revenues having achieved over 10,000 revenue seats for the first time. In addition passenger numbers grew by 23% over February despite an early Easter falling during the month, a traditionally quieter period for business travellers,” enthuses Silverjet chief executive, Lawrence Hunt.

Silverjet is undercutting the fares of established airlines offering business class, and is believed to be profiting from the chaos at Terminal 5 which has damaged the reputation of British Airways.

"Whilst the economic climate is very challenging for all airlines, Silverjet's fares at up to 50% discount to legacy airlines business class fares are attracting an increasing number of corporate customers,” comments Hunt.

Silverjet had hoped to announce its first profit in March but has still to reach this target. "Although Silverjet didn't generate an operating profit and was not cash generative in March, excluding the discontinued Flyjet operations it did record both the largest ever gross profit and the smallest operating loss since we started flying multiple aircraft, despite a further material increase in our fuel costs. This is solid progress towards our objective of becoming profitable as quickly as possible in a difficult market," says Hunt.

Business class only flights to Dubai were started by Silverjet last November. The airline also flies twice daily from Luton airport to New York Newark airport.

Written by: Nick Purdom


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Record Month For Business Class Airline