Terms of the deal were not disclosed but the new owners plan to pump up to £50million into the business.

Administrators Begbies Traynor said they had agreed to sell the Luton-based airline to a new com­pany called Kingplace, based in Ireland and managed by Heritage, a Swiss trust, on behalf of private clients.

They expect to complete the deal on Friday. Ian Ilsey, chairman of Heritage and a director of Kingplace, said: “This agreement is excellent news for the company’s suppliers, staff and loyal customers.”

Silverjet chief executive Lawrence Hunt said: “I am personally delighted that we now have the necessary backing from a long-term investor to relaunch Silverjet.

“We will be working round the clock to launch our New York and Dubai services as soon as possible.”

Aim-listed Silverjet started flying 18 months ago but was squeezed by high oil prices.


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