misleading investors seems to be standard for the boss of failing firms. The key is how they avoid saying things that can be proved to be untrue.
Silverjet claim fuel costs per sector 23% lower than Maxjet. This may be true but out of context is very misleading. If they average Maxjet sector length was around 23% longer then it down right misleading but unfortunatly not criminal. Silverjet give out lots of "facts" which are misleading and others that we cannot check until the accounts come out.
look at what maxjet said 1 month before its shares were suspended and see how misleading statements can be:-
* 71.5% revenue load factor (10,538 passengers), a 4pp increase
year-over-year * 123% passenger increase year-over-year on a 112% increase in available
seats * Fifth aircraft entered revenue service on 5 October 2007 providing an
operational spare * New Saturday service to New York commenced 20 October 2007 * New Las Vegas and Los Angeles frequencies commence in December
October 2007
MAXjet's systemwide load factor in October was 71.5%, a year-over-year increase of 4 percentage points. Revenue passengers increased from 4,728 in October 2006 to 10,538 in October 2007, an increase of 123%.
Bill Stockbridge, CEO of MAXjet commented:
"I am particularly pleased with our strong system-wide load factors given that the Los Angeles route has only now been operating for two months. This demonstrates both the underlying momentum in our network and the strong customer traction we are already achieving from both business and leisure customers between London and Los Angeles."