Key Network Developments

RNS Number:3737F
MAXjet Airways Inc.
09 October 2007


 

9 October 2007

 

                              MAXJET AIRWAYS INC.                               

                          ("MAXjet" or the "Company")                           

                            KEY NETWORK DEVELOPMENTS                            

 

MAXjet today announces a number of route developments which will be implemented
over the winter season.

 

Summary
   
  * New York service to increase to ten weekly flights
  * Service to Las Vegas to increase to six weekly flights
  * Service to Los Angeles to increase to five weekly flights
  * Additional aircraft and crew for expansion in these other markets to be
    made available through phased suspension of Washington service
  * Fifth aircraft has entered revenue service; provides operating spare for
    the fleet

 

New York

 

MAXjet will launch double-daily services on Mondays, Fridays and Sundays between
London Stansted and New York JFK starting on 1 March 2008. In addition, MAXjet
will offer double-daily departures on peak days during the rest of the winter
season. A new morning departure from London Stansted and earlier evening return
from New York will offer business travelers a choice of convenient frequencies.

 

Las Vegas

 

MAXjet will continue its expansion in the Las Vegas market with two new
frequencies.

 

A new Wednesday frequency will commence on 5 December 2007. The new departure
will leave London Stansted at 10:55am, arriving Las Vegas at 2:30pm. The return
flight will depart Las Vegas at 5:00pm.

 

A new weekend frequency will commence on 15 February 2008. The new Friday
departure from the United Kingdom will offer vacationers a convenient 4pm
departure, arriving Las Vegas at 7:30pm. On Saturdays MAXjet will introduce a
new 1pm departure from Las Vegas, arriving 7am on Sunday morning, complementing
the existing 5pm departure.

 

With this expansion, MAXjet will offer departures from London to Las Vegas every
day but Tuesday. The weekly schedule has therefore been optimized for both
business and leisure customers.

 

Los Angeles

 

MAXjet's new service to Los Angeles has already generated strong customer
traction from both business and leisure customers. As a result, MAXjet will
introduce a fifth weekly departure commencing on 5 December 2007. This new
Wednesday frequency will depart London Stansted at 9:30am and arrive Los Angeles
at 1:00pm. The return flight departs at 5:00pm.

 

Washington

 

MAXjet has operated a service to Washington since April 2006. While the route
has shown year-over-year improvements, MAXjet has decided to redeploy this
aircraft to accelerate expansion of its other fast-growing routes. As a result,
services to Washington will be phased out with the start of the winter season to
enable the new frequencies listed above.

 

Fifth Aircraft

 

MAXjet's fifth aircraft entered revenue service on 5 October 2007. The airline
now operates a fleet of five B767 aircraft.

 

Operating Spare

 

MAXjet's schedule has been designed to maximize the availability of a spare
aircraft. This spare will be available even with the schedule enhancements
described above.

 

Full Year Guidance

 

The net impact of the schedule changes described above during the current
calendar year is expected to be not more than $3 million in revenue. Full year
guidance including these changes is not less than $77 million in revenue for the
year.

 

Bill Stockbridge, CEO of MAXjet, commented:

 

"Almost two years ago we pioneered the all-business class model with our
inaugural flight between London and New York and from this foundation we have
expanded to other major cities in the US. The detailed understanding of our
routes that we have gained enables us to best meet our customer demand. I am
therefore thrilled to announce expansion in our New York, Los Angeles and Las
Vegas markets. These new services will provide our customers with greater
flexibility and will also strengthen our position as segment leader."

 

For further information, please contact:

 
MAXjet Airways, Inc                                      +1 703 574 6600   
                                                                    
Bill Stockbridge, CEO                                                  
                                                                       
John Severson, CFO                                                     
                                                                       
Josh Marks, EVP, Head of Strategy & Route Development                                                            
                                                                       
                                                                       
                                                       
Panmure Gordon, Nominated Adviser and Broker             +44 207 459 3600                    
                                                                       
Grant Harrison                                                         
                                                                       
Andrew Potts                                                           
                                                                       
Chris Bucknall                                                         
                                                                       
                                                                       
                                                       
FD                                                       +44 207 831 3113                    
                                                                       
Ben Foster                                                             
                                                                       
Charlie Watenphul                                                      

 

Notes to Editors

 

MAXjet Airways introduced the affordable all-business class segment, starting
service between London Stansted and New York (JFK) in November 2005. Since
launching the low-fare all-business class segment MAXjet has carried over
110,000 passengers and introduced new services from London to cities across the
United States.

 

MAXjet offers the amenities of Business Class, including fast check-in security
clearance, departure lounges, padded leather seats with 170 degrees of recline
and 60" seat pitch, gourmet meals and an arrivals facility at Stansted, at fares
comparable to flexible Economy Class.

 

MAXjet offers convenient flight schedules with evening departures from cities
across the United States and return flights from Stansted that appeal to both
business and leisure passengers.

 

MAXjet has attracted a customer base of small business, large business and
affluent leisure consumers with significant repeat business and high customer
satisfaction.

 

ENDS



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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