Maxjet Share suspension?
 

Maxjet have suspended share dealing pending an announcement??? apparently shareholders will be notified in due course?? any ideas?

The statement reads "...pending clarification of its financial position."
Make of that what you will, but doesn't look good to me.

looks like i can kiss goodbye to £2.5k tickets to vegas:ugh:

Not necessarily - if you paid with a UK credit card you may get a refund. But they will have to go out of business first, and that hasn't happened.

paid by amex:*

MAXJet Shares suspended.
 

From E-Tid:

That is the standard London Stock Exchange announcement made when a company has run out of money.

MY101 due to take off 14.30 Stansted. Will it or won't it?

According to the live flight information, it is Last Call, so it looks as though it is going...

http://www.stanstedairport.com/porta...ba0109328c1a0/

Just pushed back................:D

The next sign of inevitable doom is when the company says it will be "business as usual" despite the trading halt. I've learned this the hard way a couple of times over the years...

Bloomberg reports that loss has greatly increased and a further statement will be issued by the company shortly

Sometimes share trading is suspended ahead of good news (eg. an acquisition or take-over or other major announcement), as well as bad news. I have no idea which it is here, but we should just wait.

Fresh off the AP wire:

http://www.cnbc.com/id/22148806/for/cnbc

But probably not long beyond the New Year!

I am surprised at the low number of posts here given the significance of this news.

As an astute poster implied, it is absolutely clear that this means game over for MAXJet. Period. 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.

Is it dead and buried? Will Silverjet be next? Or is this due to the specifics of MAXjet's operation and/or financing, which will help Silverjet in giving them a run of no competition to launch this segment and establish the business model?

Interesting times ahead for this niche air transport segment

I hope it is not the end... I used them a few weeks ago to pop over to JFK. Good service and they deserve to do well but loads were not that busy. Just over half full from memory!

Well I hope this isn't the end for Maxjet. Flew with them recently and was very impressed with the overall service. The load factors seemed ok too with about 60-70 each way.
Good luck to them!

With significant improvements to the Virgin product (Limo to Lounge in 10 minutes and a private, all business cabin) and BA's Project Laurel with unlimited backing, it's only a matter of time before the demise of the all business carriers from the regions.

http://www.flysilverjet.com/press-re...007-12-07.aspx


December, 2007
Silverjet flies to the rescue of Maxjet customers
Silverjet, the British airline that offers a private jet experience at a fraction of the price, has today announced that it is to make a limited number of seats available to Maxjet customers travelling today (Friday 7) and tomorrow (Saturday 8). The news will come as a welcome relief to the many passengers worried about possible flight cancellations following Maxjet’s announcement this morning that it has suspended the trading of its shares pending clarification of its financial position.

I thought when the fuel suppliers started demanding cash up front - it was telling you the end was near. :(