Word: silverjet
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Industry experts estimate that the new luxe carriers--EOS, Silverjet and MAXjet--may have as much as 20% of the premium traffic on the $1.75 billion New York--London route, known as NYLON in the business. The roughly 3,600 seats in premium cabins, about 30% of the total, represent more than $1.25 billion, or 70%, of the available revenue. And 100% of the profit...
...only public start-up of the group, Silverjet, splits élitism and efficiency down the middle. It's not every day that you see the CEO of an airline collecting trash and empty champagne glasses. But Lawrence Hunt, 40, is a Richard Branson-- style British maverick who rolls up his sleeves, raises $55 million in capital and takes flight with 100 business-class seats on a 767 just eight months later; most start-ups take two years. Hunt expects to break even in six to eight months and will soon add a second and a third plane. Silverjet looks...
...flight on Silverjet had a few firsts: my first time passing through security and boarding a plane in seven minutes; the first women-only loo in the troposphere (the result of a heartfelt suggestion from a woman at Heathrow); the first carbon-neutral airline, which takes up to $23 from round-trip fares to fund projects that neutralize carbon emissions...
...economics rather than environment that attracted Nigel Hysom and Craig Thrussell to Silverjet, whose $1,800 price appeals to a category of flyer called SMEs, for "small and medium enterprises." The two London-based financial consultants fly as often as twice a month and usually take Air India because of its low $2,000 round-trip business fare. "We don't have the buying power to fly BA or Virgin," says Hysom. "As a growing business, we have to look at costs--and a flat bed is everything...
...should the traffic slow, the incumbents could always resort to price wars, a tactic they've used in the past to shoo away upstarts. The upstarts, on the other hand, need new markets, which could test their operating capability. "EOS is still the gold standard, but Silverjet is proving that the alternative carriers are here to stay," says Michael Holtz, owner of the Smart Flyer, a high-end travel agency in New York City. As a publicly traded company, Silverjet will be under pressure to deliver profits. Lobbenberg says the airline is likely to compete with MAXjet in efforts...