Maxjet
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Others seem to find the market does exist, but perhaps not from / to Stansted!
UK premium transatlantic carrier Silverjet has finalised its acquisition of two more Boeing 767ERs from UK carrier Thomsonfly for delivery in March.
The two General Electric CF6-powered aircraft will join the three 767s it already operates – two of which are also ex-Thomsonfly aircraft. The carrier initially signed a letter of intent for the two aircraft in June.
Lufthansa to acquire own aircraft to expand private jet service
Star Alliance carrier Lufthansa is to acquire its own private jets to expand its Lufthansa Private Jet (LPJ) premium service next year.
The German carrier says the new aircraft will be purchased next year and are expected to enter service in the spring. As it is setting up its own private jet fleet, the airline says its existing co-operation with provider NetJets Europe will end in February.
UK premium transatlantic carrier Silverjet has finalised its acquisition of two more Boeing 767ERs from UK carrier Thomsonfly for delivery in March.
The two General Electric CF6-powered aircraft will join the three 767s it already operates – two of which are also ex-Thomsonfly aircraft. The carrier initially signed a letter of intent for the two aircraft in June.
Lufthansa to acquire own aircraft to expand private jet service
Star Alliance carrier Lufthansa is to acquire its own private jets to expand its Lufthansa Private Jet (LPJ) premium service next year.
The German carrier says the new aircraft will be purchased next year and are expected to enter service in the spring. As it is setting up its own private jet fleet, the airline says its existing co-operation with provider NetJets Europe will end in February.
Join Date: Sep 2007
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If Maxjet doesnt survive, I really hope Silverjet go bust soon after. It's the dirtiest of tricks I have seen
outofsync, or what ever you call your self, you in my mind are a total
To__ser.
.
why dont you go back to Aus or where else you came from, why would you want to see any one loose there jobs with quotes like that. Its a big bad world out there, Im so amazed at the people wanting all these airlines to fail or just talk about them going down. I hope both Sj & MJ keep going and im sure with time things in this market will improve. It not that new a concept privat air have been doing this for years, in the end the customers will dictate how things go not a bunch of moaning pilots talking crap, and yes before you ask I am a pilot to flying many types for years.
Now im off to await the next instalment of rubbish. bye for now.
outofsync, or what ever you call your self, you in my mind are a total
To__ser.
.why dont you go back to Aus or where else you came from, why would you want to see any one loose there jobs with quotes like that. Its a big bad world out there, Im so amazed at the people wanting all these airlines to fail or just talk about them going down. I hope both Sj & MJ keep going and im sure with time things in this market will improve. It not that new a concept privat air have been doing this for years, in the end the customers will dictate how things go not a bunch of moaning pilots talking crap, and yes before you ask I am a pilot to flying many types for years.
Now im off to await the next instalment of rubbish. bye for now.
Paxing All Over The World
KeyPilot
I think that's right. They may have a teeny-tiny percentage of the sector but it is easier to lose that. The LH PrivatAir model has worked because it is an extension of their brand and not a new one. These folks have had to start from scratch and are still scrabbling.
charterguy
It may well be!!! But it is not a long term proposition for an airline.
outofsynch
Yes - and to get in trouble with the regulators. Several of the large global carriers have been in trouble before for colluding on the demise of competitors (Laker and Virgin). If AA so much as whispered in the ear of a single Max pax - they would be standing into danger. What Max have done is open the new route from STN and prove it to be viable. If Max close then AA will pick it up for almost zero investment and they will be offering FFMs too.
I don't think that the all business class model is fundamentally flawed. LH has proved it and several of the majors are now preparing to follow. THAT is what will put the kybosh on the start-ups. I expect that the three operators we are discussing here will be merged into one within two years.
One of the reasons for saying that is the recession that is now upon the UK and the USA. You will recall that someone tried this concept in 2001 but 9/11 happened before they started operations (Blue Fox?). It took four or five years to get the concept going but we now face a full-on recession that will change a lot more than just 9/11. That event only suppressed demand for a year or two, whereas the recession will END demand. Then consider the fuel cost and the power of the majors ...
As is often the case, the innovator runs for a while but they are rarely the ones who stay the distance. Who invented the PDA? Apple with the Newton. Who made it a global phenomenon? Palm with their Pilot.
The significance of this is what it says for the concept of all-business class travel, a new (and therefore small) but also potentially significant sector.
charterguy
I love flying Silverjet !! It is the only airline where I can buy a seat for £995 when the cost of that seat to the airline is nearer £2,000. Now that's value for money.
outofsynch
Why don't American Airline announce a rescue package to uplift Silverjet passengers.... Great way to steal your competition??!
I don't think that the all business class model is fundamentally flawed. LH has proved it and several of the majors are now preparing to follow. THAT is what will put the kybosh on the start-ups. I expect that the three operators we are discussing here will be merged into one within two years.
One of the reasons for saying that is the recession that is now upon the UK and the USA. You will recall that someone tried this concept in 2001 but 9/11 happened before they started operations (Blue Fox?). It took four or five years to get the concept going but we now face a full-on recession that will change a lot more than just 9/11. That event only suppressed demand for a year or two, whereas the recession will END demand. Then consider the fuel cost and the power of the majors ...
As is often the case, the innovator runs for a while but they are rarely the ones who stay the distance. Who invented the PDA? Apple with the Newton. Who made it a global phenomenon? Palm with their Pilot.
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Last July I used MaxJet for the first time and was quite impressed with their product. I was about to purchase their regular £750+ return fare when I found a promotional fare of around £550 available and so our party of 4 got round trip Business Class tickets for not much more than the normal economy fare (I was being quoted about £500 for an economy return which was at the peak of the summer season). The flight out went smoothly and was about 90% full. On arriving at JFK for the return flight, we discovered the flight was cancelled due technical problems. MaxJet however looked after us well - and we were transferred to Virgin and flew back in Upper Class with a taxi waiting at Heathrow to take us back to Stansted. I understand that unserviceability problems were not unusual. While I have no complaints about the way MaxJet looked after us - each flight cancellation must cost them dearly, bearing in mind the low fare paid and the cost of arranging premium alternative flights and transport. More reliable aircraft and slightly higher base and promotional fares might have helped the financial figures without much erosion of passenger numbers. They were certainly very good value for what they offered. I had hoped to use them again next year and would be sad if they were to cease operations.
Last edited by Scottish Flyer; 9th Dec 2007 at 23:51.
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I flew Silverjet in Nov this year and was impressed. The crew were friendly, the seat was pretty good and the food was excellent, especially the cake before we landed. I cannot afford to fly business or first everytime I fly (I wish i could) and these airlines make that wish a reality. With the way airlines cram passengers into coach nowadays like battery hens, it's good to know that there is an alternative. I really hope all these new airlines stick around, fingers crossed that they can sort out their cash flow problem. I would love to fly with MJ to LAX in April this spring but until all their problems are sorted out, I'm afraid to book anything incase I lose my cash. Heres hoping for a more prosperous 2008.
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I was looking at Maxjet's stock price for the days before trading stopped. I found it very curious that there was a large sell off on Dec 5th.. when the announcement was made to halt trading on the 7th. Does anyone else find this sell-off very odd, given that there were no announcements from the company and that they are apparently in talk to get more financing?
Paxing All Over The World
dhc-6 Sounds like a financial SOP to me.
Hopefully, someone that is involved in this will report any suspicions of wrong doing to the authorities. However, if they do fail, then earlier trading prior to a critical announcement will not go unnoticed.
Hopefully, someone that is involved in this will report any suspicions of wrong doing to the authorities. However, if they do fail, then earlier trading prior to a critical announcement will not go unnoticed.
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http://www.ft.com/cms/s/0/11c4aacc-b...0779fd2ac.html
Noticed tht only fully flex fares available for the next 3 months, all others seem to show "Sold Out".
Noticed tht only fully flex fares available for the next 3 months, all others seem to show "Sold Out".
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No sponsor - why the vitrol?
The advisors are Panmure Gordon & Co; Deloitte have no involvement.
FT article in full:
Maxjet in last-ditch talks
By Kevin Done, Aerospace Correspondent
Published: December 23 2007 20:40 | Last updated: December 23 2007 20:40
The fate of Maxjet Airways, the struggling US all-business class airline, is expected to be announced today, as last-ditch efforts continued at the weekend to put together a financial rescue package.
Trading in London in the shares of Maxjet, one of the new breed of all-business class long-haul airlines, was suspended two-and-a-half weeks ago.
The only statement it has issued since came two weeks ago, when it said it was operating all flights and had no plans to change its schedule. It said advance bookings remained strong.
Maxjet started flying transatlantic services in November 2005 between Stansted and New York JFK airports. It has since opened additional routes between Stansted and Los Angeles and Las Vegas and has offered the widest scheduled long-haul network from Stansted.
It raised net proceeds of £47.3m in an initial public offering in June, becoming the second all-business airline after Silverjet, its UK rival, to list on London’s Alternative Investment Market. In previous funding rounds it had raised about $88m in private placements.
It has faced mounting losses, however, in the face of surging fuel prices and lower-than-expected fare yields. Higher maintenance costs for its ageing fleet of Boeing 767 aircraft have also depressed its financial performance.
After being launched at 138p a share, Maxjet shares rose briefly to a peak of 140p, but have declined steeply in recent months, falling to a low of 73½p before trading was halted.
The search for financial backing has been made more difficult by deteriorating world financial markets.
Maxjet had a net loss of $49.5m in the first six months of the year, as it was hit by higher than expected costs from aircraft maintenance and rising fuel prices, as it expanded its transatlantic operations. It made a net loss of $79m in 2006, its first full year of operations, on turnover of $41.1m.
The advisors are Panmure Gordon & Co; Deloitte have no involvement.
FT article in full:
Maxjet in last-ditch talks
By Kevin Done, Aerospace Correspondent
Published: December 23 2007 20:40 | Last updated: December 23 2007 20:40
The fate of Maxjet Airways, the struggling US all-business class airline, is expected to be announced today, as last-ditch efforts continued at the weekend to put together a financial rescue package.
Trading in London in the shares of Maxjet, one of the new breed of all-business class long-haul airlines, was suspended two-and-a-half weeks ago.
The only statement it has issued since came two weeks ago, when it said it was operating all flights and had no plans to change its schedule. It said advance bookings remained strong.
Maxjet started flying transatlantic services in November 2005 between Stansted and New York JFK airports. It has since opened additional routes between Stansted and Los Angeles and Las Vegas and has offered the widest scheduled long-haul network from Stansted.
It raised net proceeds of £47.3m in an initial public offering in June, becoming the second all-business airline after Silverjet, its UK rival, to list on London’s Alternative Investment Market. In previous funding rounds it had raised about $88m in private placements.
It has faced mounting losses, however, in the face of surging fuel prices and lower-than-expected fare yields. Higher maintenance costs for its ageing fleet of Boeing 767 aircraft have also depressed its financial performance.
After being launched at 138p a share, Maxjet shares rose briefly to a peak of 140p, but have declined steeply in recent months, falling to a low of 73½p before trading was halted.
The search for financial backing has been made more difficult by deteriorating world financial markets.
Maxjet had a net loss of $49.5m in the first six months of the year, as it was hit by higher than expected costs from aircraft maintenance and rising fuel prices, as it expanded its transatlantic operations. It made a net loss of $79m in 2006, its first full year of operations, on turnover of $41.1m.
Join Date: Feb 2007
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Maxjet bankrupt.
Just read of Maxjet going bust - sad news...
http://news.bbc.co.uk/go/news/int/cu...ss/7159286.stm
Matt.
http://news.bbc.co.uk/go/news/int/cu...ss/7159286.stm
Matt.
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Good news for EOS and Silverjet?
It's really not that simple.
Maxjet's fate is a mixed bag for their competitors, but mainly it'll mean that investors will probably lose some confidence in their respective products.
Airlines using similar models will be under more intense scrutiny now.
One significant outcome of the Maxjet demise is that there's now 5 homeless 767s on the streets. This is one thing that could well prove beneficial for Silverjet. They won't even have to spend much on refitting them to their style of cabin.
... failing that, there's a 767-hungry lo-co up north...
It's really not that simple.
Maxjet's fate is a mixed bag for their competitors, but mainly it'll mean that investors will probably lose some confidence in their respective products.
Airlines using similar models will be under more intense scrutiny now.
One significant outcome of the Maxjet demise is that there's now 5 homeless 767s on the streets. This is one thing that could well prove beneficial for Silverjet. They won't even have to spend much on refitting them to their style of cabin.
... failing that, there's a 767-hungry lo-co up north...