Maxjet Plays the Scrooge
Maxjet filed for bankruptcy on Christmas Eve, halting flights immediately and rebooking passengers between London and New York on competitor Eos. While not that many people actually flew on MaxJet--maybe that was part of the problem?--this is the first of the new transatlantic biz-class-only carriers to shut down. A statement from CEO William Stockbridge is posted on Maxjet's website:
It is with deep regret that I must inform you that MAXjet filed Chapter 11 bankruptcy on 24 December 2007. With today's fuel prices and the resulting impact on the credit climate for airlines, we are forced to take this drastic measure...We are extremely saddened to discontinue a service that we so passionately believe in.
On first glance, it seems like great news for Eos, L'Avion and Silverjet. But all long-haul carriers are getting hammered by higher fuel prices. Perhaps worse than that? Passengers who take a chance on these newcomers can't rack up frequent flyer benefits, which has to hurt repeat business. Maxjet's shuttering may not herald the end of the jet age, but it certainly shows how massively indifferent the airline market is toward innovative start-ups, as lesson not likely missed by some other folks.
Related Stories:
· Maxjet [Official Site]
· Maxjet coverage [Jaunted]
[Photo: Martin Third Av'n]
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