SILVERJET, the latest budget business class carrier to surface, will be based at London Luton Airport. The operator plans to run a twice-daily service between Luton and Newark, New Jersey, within the next nine months.

The carrier will be competing with US start-ups Maxjet and Eos, which both began flying from Stansted in September. With prices starting at £999, the service is cheaper than the Club Class service from market leader, British Airways. Silverjet is hoping to raise £25 million when it is listed on AIM this month.