ADMINISTRATORS at Silverjet, the luxury airline, are negotiating with a number of potential buyers in the hope of selling the company early this week.

Silverjet, which flew from Luton to New York and Dubai, suspended operations on Friday, saying it had been unable to conclude last-minute talks on a cash injection. A week earlier it suspended its shares after a funding deal with Middle Eastern investors proved abortive.

Begbies Traynor, the restructuring specialists, were appointed as administrators on Friday. Airline-industry sources suggested that Viceroy Holdings, the investment fund behind the abortive refinancing deal, might be a bidder. There is thought to be another offer from a group of former managers who recently left the airline.

An important role will be played by the Reuben brothers, the property tycoons who last year became Silverlink’s senior creditors after advancing it a £10m loan.

- Boeing has paid Ryanair to promote its products in Europe, according to a Securities and Exchange Commission filing.

Times Recommends

• C&G axed - 1,660 jobs to be lost
• UK house prices rise 1.1% as buyers return
• Mixed reaction to US banks repaying bailouts