MAXJ Maxjet

RNS Number:6390K
MAXjet Airways Inc.
24 December 2007

24 December 2007





                              MAXjet Airways, Inc

                          ("MAXjet" or "the Company")

                               Directorate Change



The Board of MAXjet announces today the resignation of the following directors
with immediate effect:



Ken Woolley, Non-Executive Chairman

Paul Kehoe, Non-Executive Director

Roger Flynn, Non-Executive Director



On 24 December 2007, the Board of Directors of MAXjet regretfully informed its
shareholders, employees, customers and suppliers that a voluntary petition under
Chapter 11 of the U.S. Bankruptcy Code was necessary.  The Company has been
affected simultaneously by a number of material factors which have negatively
impacted its financial position. These principal factors are fuel price
inflation, other operating cost increases, competitive pressure and decline in
consumer spending. In addition a substantial deterioration in financial market
confidence has precluded any further fundraising.



After a vigorous period of assisting the management team to find alternative
financing means, Paul Kehoe and Roger Flynn are resigning as the Company no
longer requires Non-Executive Directors with United Kingdom public-market
expertise. Ken Woolley, Non-Executive Chairman, is resigning due to potential
conflicts as a creditor of the Company under the Chapter 11 process.



"On behalf of the Company I sincerely thank Ken, Paul and Roger for their
service," said William Stockbridge, CEO.  "We are all deeply saddened that we
were left with no other choice but filing for bankruptcy protection.  Ken, Roger
and Paul worked tirelessly to seek alternatives for our shareholders, employees,
customers and suppliers, and we are grateful for their efforts."



For more information please contact:



MAXjet Airways Inc.

Media Relations

+1 703 574 6474



Financial Dynamics

MAXjet Media Relations

+44 (0)20 7831 3113


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

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