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Bankruptcy for business airline Bankruptcy for business airline
(about 3 hours later)
Low-cost business class airline Maxjet has ceased operating and filed for Chapter 11 bankruptcy protection.Low-cost business class airline Maxjet has ceased operating and filed for Chapter 11 bankruptcy protection.
In a statement to the London Stock Exchange, it said its efforts to raise more capital had been unsuccessful.In a statement to the London Stock Exchange, it said its efforts to raise more capital had been unsuccessful.
Launched two years ago, Maxjet operated from London's Stansted airport, flying between London and New York.Launched two years ago, Maxjet operated from London's Stansted airport, flying between London and New York.
The company blamed its difficulties on fuel price inflation, competitive pressures and a decline in consumer spending. The US company blamed its difficulties on fuel price inflation, competitive pressures and a decline in consumer spending.
It has bought 500 seats from rival Eos Airlines to accommodate passengers awaiting return flights from London and New York.It has bought 500 seats from rival Eos Airlines to accommodate passengers awaiting return flights from London and New York.
Maxjet introduced its all-business-class service with a fleet of Boeing 757s in November 2005. Later, it launched services to Las Vegas and Los Angeles.Maxjet introduced its all-business-class service with a fleet of Boeing 757s in November 2005. Later, it launched services to Las Vegas and Los Angeles.