British-based business class airline Silverjet announced today that it was grounding its planes as high oil prices force airlines to consolidate to survive. This from Bloomberg:

Silverjet, which never made a profit in 16 months, was the last of three business-class only operators flying between London and the U.S. following the bankruptcy of Eos Airlines and MAXjet Airways Inc. More than a dozen carriers have collapsed in the past six months after the price of oil jumped 41 percent.