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Investor increases stake in Silverjet

01.05.08

Brian Bailey has increased its stake in Luton Airport based all business class airline Silverjet to 4.255% after he bought 100,000 shares for £0.21 yesterday, Thomson Financial reports. Mr Bailey previously bought a 4.1% stake in the airline on April 14.

The share purchase came after Silverjet announced that it agreed a memorandum of understanding with a UAE investor for a $25 million initial investment as a mixture of debt and equity, with the promise of a further $75m to expand the airlines operations to the Middle East, Asia and Africa.

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