Maxjet halts share trading pending financial announcement

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

All-premium operator Maxjet Airways has temporarily suspended its share trading on the Alternative Investment Market (AIM) of the London stock exchange, pending clarification of its financial position.

Boeing 767 operator Maxjet Airways began transatlantic all-business services between London Stansted and the US in November 2005. In June it listed on the AIM section of the London stock exchange, which an international market for smaller growing companies.

Maxjet says: “The company has today requested that the trading of its common stock be suspended with immediate effect pending clarification of its financial position. The board will update investors in due course.”

Trading in Maxjet shares was suspended at 07:59 this morning.

In September Maxjet Airways detailed its interim results for the six months ended 30 June 2007. Its first half operating losses widened from $30 million to $31.9 million. Revenues for the period totalled $27.3 million, marking a 74% improvement, while operating expenses increased by 30% to $59.2 million.

MaxJet operates all-business flights from London Stansted to three US cities: Las Vegas, Los Angeles and New York JFK. According to Flight’s ACAS database, Maxjet operates a Boeing 767-200 and four Boeing 767-200ERs.