MAXjet Airways

MAXjet Airways was an American, transatlantic, all-business class airline that operated between 2003 and 2007. Its headquarters were located on the grounds of Washington-Dulles International Airport, and in the Dulles area of Loudoun County, Virginia, United States.[2]

MAXjet operated services to London Stansted Airport, United Kingdom from Las Vegas McCarran International Airport, Los Angeles International Airport, and John F. Kennedy International Airport, New York.[3]

From the beginning, MAXjet Airways may have been compromised by a lack of economies of scale, having only a maximum of 5 aircraft at the height of its operations, although this is similar to other competing airlines in this class (EOS, SilverJet [4] etc.). It offered passengers airport lounge access (flagship lounge at Stansted; shared, non-proprietary at JFK and LAX; not available in Las Vegas), premium complimentary meals and beverages and on-demand in-flight entertainment.

History

The airline was publicly traded on the London Stock Exchange Alternative Investment Market as "MAXJ".[3] It operated its first service from New York to London on 1 November 2005. Founded in 2003, the airline was conceived as a transatlantic low-cost carrier that would code share with domestic low-cost carriers at Baltimore-Washington International Thurgood Marshall Airport. During its start-up phase, management expressed concern over the economics of applying the low cost carrier model to transatlantic routes and instead repositioned the airline as a premium all-business-class service. MAXjet's target market was premium economy and "savvy" business class passengers.

The success of MAXjet’s all-business-class service continued to grow as the company claimed load factors of 83.1% (June 2007) on its network from London Stansted.[7]

As well as the scheduled routes, MAXjet’s luxury charter operations continued to grow with the acquisition of more aircraft. Some aircraft were planned to focus on the growing charter business as well as being used as support on the New York City, Los Angeles and Las Vegas scheduled routes. The airline’s luxury charter business, which experienced significant growth, transported groups to various destinations throughout Europe, the Caribbean and the USA. Charters included Stockholm to Las Vegas, and England to Washington, D.C., and Los Angeles including a charter for the 2006 U.S Ryder Cup team. The company had a strong customer base that included corporations, government entities and professional sports teams.[8]

Suspension of MAXjet shares and filing for bankruptcy

On 7 December 2007, MAXjet suspended trading of its shares on AIM, pending clarification of their financial position.[9]

An article in the Financial Times on 23 December 2007 reported that the company was in "last-ditch talks" to arrange a financial rescue package.[10] However, the following morning the company announced on its website that it had filed for Chapter 11 bankruptcy. Passengers who had yet to travel were advised to seek a refund from the point of purchase. The company announced it had already begun to make alternative travel or accommodation arrangements for those left stranded.

On 24 December 2007, MAXjet announced that they permanently suspended all flight operations citing rising fuel costs, increased crew salaries, and other unforeseen costs. The airline purchased tickets to accommodate passengers on Eos Airlines, and Continental Airlines and Silverjet both made offers to accommodate stranded MAXjet passengers.[11]

airline	MAXjet
iata	MY
icao	MXJ
callsign	MAX-JET
parent	MAXjet Airways, Inc
founded	2003
ceased	December 24, 2007‡R1R‡
headquarters	Washington Dulles International Airport, Sterling, Virginia
key people	William D. Stockbridge, CEO
hubs	London Stansted
frequent flyer	MAXflier
fleet size	5
destinations	4
website	http://www.maxjet.com, http://www.maxjet.org

History

Suspension of MAXjet shares and filing for bankruptcy

Destinations

Europe

North America

Fleet

In-flight services

Awards

See also

External links

References