Announcement of a rescue for U.K. all-business airline was premature

British all-business-class airline Silverjet, which stopped flying two weeks ago after a capital infusion from a new investor failed to materialize, said early last week that it had found a buyer and could soon be back in the air. However, by week’s end the parties were unable to successfully complete their negotiations for an acquisition of the airline, and the deal fell through. Silverjet proceeded to lay off its 300 employees, although it said it would continue to search for new investors who might want to acquire the company and revive its service. The tentative acquirer of Silverjet was Kingplace Ltd., an Irish affiliate of a Geneva-based investment trust. Silverjet had been flying between New York (Newark) and London’s Luton Airport, and between Luton and Dubai.