Airline MAXjet files for bankruptcy, ceases flights
LONDON
: All-business class airline MAXjet Airways Inc. said Monday it had filed for bankruptcy and suspended all flights.
In a message posted on the airline's Web site, president and chief executive William Stockbridge said the Dulles,
Virginia-based airline had filed for Chapter 11 bankruptcy. Stockbridge said the carrier had been driven to the "drastic measure" by factors including rising fuel prices and the global credit crunch.
MAXjet launched in 2005 and offered "all-premium" flights between
London's
Stansted Airport,
New York,
Las Vegas and
Los Angeles.
The airline advised customers who had booked tickets to seek refunds from their travel agency or credit card company. MAXjet said it was trying to find seats on other airlines for those who had already begun their journeys.
The carrier said trading in its shares on the
London Stock Exchange's Alternative Investment Market — halted earlier this month "pending clarification of its financial position" — would remain suspended. MAXjet shares last traded at 73.5 pence (US$1.45; €1.01).
www.iht.com/...Bankrupt-Airline.php
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