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MAXjet IPO On 14 June  
User currently offlineLatinAviation From United States of America, joined Nov 2003, 1277 posts, RR: 14
Posted (7 years 4 months 3 weeks 2 days 16 hours ago) and read 1967 times:

I haven't seen this posted on A.net yet, but MAXjet's shares will begin to trade on 14 June on the London AIM exchange. They have modified their corporate governance to comply with the US ownership restrictions on 25% voting and 49% equity caps.

They'll raise USD$93.7MM, most of the proceeds will be used to pay off pre-IPO bridge financing and for cash reserves, with other funds used for expansion.

Below is an article on the flotation:
MAXjet raises $94M, plans overseas expansion
http://www.bizjournals.com/washingto...2007/06/04/daily55.html?from_rss=1
Low-cost business class airline MAXjet has raised $93.7 million in a London stock sale and says it will use some of the money to expand flights abroad. The Dulles-based airline, which operates a small fleet of 767s on routes from Washington and New York to London's Stansted Airport, sold 36.6 million shares to private investors. Some of the money will be used to pay pre-IPO bridge loans.

9 replies: All unread, jump to last
 
User currently offlineThirteenRight From United States of America, joined Jun 2007, 340 posts, RR: 0
Reply 1, posted (7 years 4 months 3 weeks 2 days 16 hours ago) and read 1960 times:

I hope this means more a/c and subsequently more routes from JFK!

User currently onlineAlitaliaMD11 From Spain, joined Dec 2003, 4068 posts, RR: 13
Reply 2, posted (7 years 4 months 3 weeks 2 days 15 hours ago) and read 1903 times:

Quoting ThirteenRight (Reply 1):
I hope this means more a/c and subsequently more routes from JFK!

The airline actually recently acquired a pair of Air Mauritius 767-200s which I think now brings their fleet to 5!



No Vueling No Party
User currently offlineAsuflyer05 From United States of America, joined Feb 2004, 2373 posts, RR: 3
Reply 3, posted (7 years 4 months 3 weeks 2 days 15 hours ago) and read 1865 times:

I wonder if they are making money? I guess now that they are publicly traded we will know for sure.

User currently offlineLatinAviation From United States of America, joined Nov 2003, 1277 posts, RR: 14
Reply 4, posted (7 years 4 months 3 weeks 2 days 14 hours ago) and read 1829 times:

Quoting Asuflyer05 (Reply 3):
I wonder if they are making money? I guess now that they are publicly traded we will know for sure.

According to their prospectus, they lost $79.2MM in FY2006.


User currently offlineThirteenRight From United States of America, joined Jun 2007, 340 posts, RR: 0
Reply 5, posted (7 years 4 months 3 weeks 2 days 13 hours ago) and read 1783 times:

Quoting LatinAviation (Reply 4):
According to their prospectus, they lost $79.2MM in FY2006.

That's scary. Hopefully 2007 will be a better year!


User currently offlineSkyexRamper From , joined Dec 1969, posts, RR:
Reply 6, posted (7 years 4 months 3 weeks 1 day 21 hours ago) and read 1607 times:

Quoting ThirteenRight (Reply 1):
I hope this means more a/c and subsequently more routes from JFK!

JFK doesn't need more flights of anything....no NYC metro airspace needs more flights. Big grin  Silly


User currently offlineLaxintl From United States of America, joined May 2000, 25845 posts, RR: 50
Reply 7, posted (7 years 4 months 3 weeks 1 day 21 hours ago) and read 1596 times:

Quoting LatinAviation (Reply 4):
According to their prospectus

Got a link? Be interesting reading



From the desert to the sea, to all of Southern California
User currently offlineCHRISBA777ER From UK - England, joined Mar 2001, 5964 posts, RR: 62
Reply 8, posted (7 years 4 months 3 weeks 1 day 21 hours ago) and read 1596 times:

Quoting LatinAviation (Reply 4):
According to their prospectus, they lost $79.2MM in FY2006

Not really - first full year of ops, thats fairly standard for an airline without an established customer base - the investors will have been primed and the backers will have deep pockets.

Next year expect a small loss or break even, and profits the year after, if general wisdom is taken as read.



What do you mean you dont have any bourbon? Do you know how far it is to Houston? What kind of airline is this???
User currently offlineLatinAviation From United States of America, joined Nov 2003, 1277 posts, RR: 14
Reply 9, posted (7 years 4 months 2 weeks 2 days 23 hours ago) and read 1379 times:

Quoting CHRISBA777ER (Reply 8):
Not really - first full year of ops, thats fairly standard for an airline without an established customer base - the investors will have been primed and the backers will have deep pockets.

What do you mean by not really? This is taken verbatim from their P&L in the prospectus. I didn't qualify the loss, I am simply reporting it.


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