Administrators are optimistic of finding a buyer for Luton's most famous, but now grounded, business airline.

Silverjet, which announced a ceasing of services on Friday, is now in the hands of Begbies Traynor Group.

The airline had failed to secure funding from a promised loan and was forced to ground planes indefinitely at the end of last week.

But the administrators, Mark Fry and Nigel Atkinson, appointed to run the embattled executive flyer are hoping to find a buyer for the whole enterprise rather than sell it piece by piece.

'A number of interested parties have already been in contact, ahead of our appointment as administrators, and we are confident of achieving a sale given the attractions of the company,' Mr Fry said.

'Silverjet's increasingly strong operational performance, award-winning customer service and positioning as the last business class only transatlantic airline operator underpin its potential given adequate funding.'

The company's demise came at the end of a protracted attempt to secure much needed funding.

Rising fuel prices already killed off its two main competitors, Eos and MAXjet, and the same threat was never far from the Luton firm's door.

A cash injection from Viceroy Holdings looked set to keep Silverjet up and running but after the money failed to materialise the airline was left with no choice but to bring in administrators.

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Silverjet

Luton Airport