Silverjet airline goes into administration

LONDON May 30 (Reuters) - Britain's Silverjet SILJ.L airline said on Friday it appointed administrators after failing to secure funding to continue operations.

The London-New York business-class airline grounded its fleet earlier in the day. Sky-rocketing fuel prices and a worsening economy on both sides of the Atlantic have already sent former rivals Eos and MAXJet out of business.

Administrators from Begbies Traynor will undertake a review of Silverjet's assets but the company said it did not believe there was likely to be any value realised for shareholders. (Reporting by Ben Hirschler)