Silverjet's capital has been reportedly deteriorating due to recent increases in fuel prices and credit conditions. Due to this, the british business-class airline is reportedly being rescued by a certain UAE investor for a $25 million buyout through cash injection with an option to infuse a further $75 million.
The directors anticipate that Silverjet will enter into binding agreements in respect of this initial tranche of the investment imminently.
Upon completing the investment, it is intended that the investor will appoint two representatives to Silverjet's board of directors.
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