And Maxjet was planning to do some new routes also. EOS, Max, and many of the upstarts will be out of business with oil at the current and even lower prices. They just don't have the fleet and seats to cover their cost. Not bashing. Just reality.

 

I think you are right. I have a friend there and it does not look good.

If anyone is interested Gemini is running new hire classes through November. Both MDs and 10s.......

 

One more thing....

http://www.ft.com/cms/s/0/bfefe734-b...0779fd2ac.html

I hate seein' this kind of ****.

Good luck you [Maxjet] guys......

 

as of today maxjet is done. buddy who is in london got a call.email telling him to get on the next flight back to us. doh!

 

To the front line workers… and I mean all crewmembers MAXjet… all of you are superlative and have demonstrated the highest level of professionalism, and dedication to your passengers, to your company, and to each other. It’s an ignominy the pinheads neglected to give you proper respect up to and including today. As we speak the crew is on the aircraft waiting for other crews, who were staying at the Radisson Hotel in STN, to arrive at the aircraft which will be flown back to the states.

To those front line employees of MAXjet… may you find comfort, support, strength from your loved ones. To these people… good luck to one and all.

To the cowardice classless dolts in management of MAXjet… may your eggnog curdle… after you drink it of course… so your stomachs are as sour as your loyal employees…

 

My condolences, MAXJet employees. Ya'll be in my thoughts, good luck.

 

MAXjet Airways Files For Chapter 11 Bankruptcy

DOW JONES NEWSWIRES
December 24, 2007 8:17 a.m.

By Marietta Cauchi
Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--MAXjet Airways PLC (MAXJ.LN) said Monday it has filed for Chapter 11 Bankruptcy, blaming rising fuel costs and an increase in competition for business-class travelers for its inability to raise necessary funding.

The transatlantic business-class only airline listed just six months ago on AIM, London's alternative market.

The company said it had been trying to secure additional funding since early November but without success.

"With unfavorable market conditions, coupled with rising fuel costs, increased competition, consumer confidence and other macroeconomic factors, the financing round was unsuccessful," the company said in its statement.

"The directors, therefore, have authorized bankruptcy protection to preserve and maximize the value of the business for the benefit of the Company's creditors," it added.

MAXjet suspended trading of its stock Dec. 7, as a result of an inability to clarify its financial position. At that time, the company was in advanced discussions on a financing round for working capital and growth in 2008 that it expected to close before year-end.

The company said that the shareholders are unlikely to receive any value following the bankruptcy and shares will remain suspended.

The airline's shares last traded at 73.5 pence having reached a high of 131.5 pence just following flotation in June.

In a later statement, the company said that its non-executive chairman, Ken Woolley, as well as non-executive directors Paul Kehoe and Roger Flynn had resigned with immediate effect.

"After a vigorous period of assisting the management team to find alternative financing means, Kehoe and Flynn are resigning as the company no longer requires non-executive directors with U.K. public-market expertise," the company said.

The company added that Woolley was resigning because of potential conflicts as a creditor of the company under the Chapter 11 process.

U.S.-based MAXjet, which started operations in late 2005, operates flights from London's Stansted Airport to New York, Los Angeles and Las Vegas.

The U.S. incorporated company, based in Dulles, Virginia, listed on AIM to avoid the U.S.' complex and costly listing requirements. It raised around GBP50 million on its IPO.

Business-class only airlines face competition from mainstream carriers as well as the increasing number of players in the specialist sector, experts say.

MAXjet competes with rival premium-only carriers Eos Airlines of the U.S. and U.K.-based Silverjet PLC (SIL.LN).

Airline industry analysts have warned that premium-class only carriers like MAXjet may get hit by an economic slowdown as companies force more staff to travel coach class. High fuel costs are also hitting the earnings of all carriers.

Although MAXjet may beat them on price, established carriers like Virgin Atlantic Airways Ltd. and British Airways PLC (BAY.LN) offer travelers many more flights a week and have more extensive airport lounges.

MAXjet also had problems specific to the company, with the late delivery of its fourth and fifth aircraft meaning that the company had to rebook passengers in premium cabins with other carriers.

http://online.wsj.com/article/BT-CO-...2.html?mod=air

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A real shame.

 

from the Maxjet website:

IMPORTANT UPDATE FROM MAXJET
Information below regarding those who have booked travel

Dear Friends of MAXjet:

It is with deep regret that I must inform you that MAXjet filed Chapter 11 bankruptcy on 24 December 2007. With today’s fuel prices and the resulting impact on the credit climate for airlines, we are forced to take this drastic measure. Our top priority is to assist our customers, particularly those who already have begun their travel with us, in securing alternative flight accommodations.

MAXjet has contracted with Eos Airlines for seats on Eos’ scheduled all-Premium service to accommodate passengers awaiting a return flight between New York and London. Passengers needing return travel between London, Los Angeles and Las Vegas will be contacted regarding their flight re-accommodations. Any customers who choose to make flight accommodations directly should seek a refund from their point of purchase (credit card or travel agency) for the unused leg of their journey.

We have also secured hotel rooms in London, New York, Las Vegas and Los Angeles through early January 2008 which we will provide to affected passengers whose travel plans have been disrupted.

On behalf of the entire MAXjet family, we extend our apologies to you for the inconvenience. We are extremely saddened to discontinue a service that we so passionately believe in, and we thank our loyal flyers who helped build MAXjet since our start in 2005.


Sincerely,

William D. Stockbridge
President and CEO

 

so this last letter form the CEO souns like they have ceased operations????even if the company still exist they are no longer flying????

I hope all the pilots find better jobs.

 

Many friends of mine there from a previous airline, ironically, it ended in similier fashion. I wish everyone the best there and hope future jobs are near.