Business airline Silverjet has responded to a savage sell note from broker Daniel Stewart which has helped knock its share price by nearly 30%.
The airline said the note "contains numerous material mistakes and inaccuracies".
It also played down fears it could run out of cash.
"Cash flow will be broadly neutral over the remainder of its current financial year ending 31 March 2008 and the business is expected to be cash generative thereafter," it said.
"[The company] continues to trade strongly with 5,000 bookings being made last week and 20% of customers are now repeat bookings.
"The airline is in a strong financial position having just raised £22m, £12m from existing investors and £10m from the Reuben Brothers as well as securing two new aircraft which will be delivered by March this year."
Time will, of course, tell who is right.
