MAXJet reforming? They've been bought by some college travel operator...
April 16 (Bloomberg) -- MAXjet Airways Inc., the
business-class carrier that filed for bankruptcy protection,
was bought by NCA Sports Group Inc., a provider of flights
and bus trips for college athletes and their fans.
A U.S. bankruptcy court approved the sale of MAXjet's
assets to MAXjet Airways Acquisition Group LLC, which is
owned and operated by NCA Sports, according to the Dulles,
Virginia-based carrier's Web site.
MAXjet filed for Chapter 11 bankruptcy protection on Dec.
24, citing crippling fuel costs and increased competition.
The airline had aimed to provide business-class seats at a
lower price than traditional, multi-class airlines. NCA,
based in Bentonville, Arkansas, operates a charter service
for university sports teams, according to its Web site.
``I am looking forward to adding MAXjet to the NCA
Sports Group family,'' NCA Chief Executive Officer Kevin
Clark said on the MAXjet Web site. ``We believe that it's
time for a smart luxury charter service that combines
comfort, value and flexibility.''
MAXjet was authorized to sell its assets to MAAG for
$1 million in cash, according to filings at the U.S. Bankruptcy
Court in Delaware on March 26. The assets include an operating
certificate from the Federal Aviation Administration.