Business class airline Maxjet goes bankrupt

Plane Taking Off

All-business class long-haul airline Maxjet, which operated flights between Stansted airport and New York JFK, Los Angeles and Las Vegas, has gone bankrupt.

Maxjet says its has reserved seats on Eos Airlines all-premium service for passengers currently awaiting a return flight between New York and London. Passengers who have booked return flights between Stansted and Los Angeles and Las Vegas are being contacted by the airline with alternative arrangements.

Passengers who have already started their journeys and who decide to book alternative flights are being advised to seek a refund directly from their point of purchase for the return leg of their travel. Other passengers who have booked tickets but not yet started their journeys are also advised to seek a refund through their credit card or travel agent.

Maxjet says it has secured hotel rooms in London, New York, Las Vegas and Los Angeles through until early January 2008 for passengers whose travel plans have been disrupted.

In a message on Maxjet’s website, president and ceo William D Stockbridge announces: “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 started transatlantic flights between Stansted airport and New York JFK in November 2005, and added further routes between Stansted and Los Angeles and Las Vegas. In June it became the second all-business class airline after Silverjet to list on the Alternative Investment Market. But the airline had net losses of $79 million in 2006 and $49.5 million in the first six months of this year and rising fuel prices, higher maintenance costs and lower than expected seat prices have seen its untimely demise.

Written by: Nick Purdom


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Business Class Airline Maxjet Goes Bankrupt