A low-cost airline is being set up to serve business-only passengers.

Silverjet, which is based at Luton Airport, is to run two services a day to New York. The first flight is expected to take to the skies within a year, with return tickets priced at £999. The big commercial airlines charge around £4,500 to cross the Atlantic.

The company says it aims to do for business travellers what Easyjet has done for domestic flyers. But there'll be no cramped accomodation for Silverjet's passengers - they'll all travel in style with fully-reclining beds rather than cradle seats.