LatinAviation From Ireland, joined Nov 2003, 1276 posts, RR: 17 Posted (5 years 11 months 1 week 5 days 2 hours ago) and read 1421 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.
ThirteenRight From United States of America, joined Jun 2007, 340 posts, RR: 0 Reply 1, posted (5 years 11 months 1 week 5 days 1 hour ago) and read 1414 times:
I hope this means more a/c and subsequently more routes from JFK!
Asuflyer05 From United States of America, joined Feb 2004, 2369 posts, RR: 3 Reply 3, posted (5 years 11 months 1 week 5 days ago) and read 1319 times:
I wonder if they are making money? I guess now that they are publicly traded we will know for sure.
ThirteenRight From United States of America, joined Jun 2007, 340 posts, RR: 0 Reply 5, posted (5 years 11 months 1 week 4 days 23 hours ago) and read 1237 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!
Laxintl From United States of America, joined May 2000, 22021 posts, RR: 51 Reply 7, posted (5 years 11 months 1 week 4 days 6 hours ago) and read 1050 times:
CHRISBA777ER From UK - England, joined Mar 2001, 5964 posts, RR: 63 Reply 8, posted (5 years 11 months 1 week 4 days 6 hours ago) and read 1050 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???
LatinAviation From Ireland, joined Nov 2003, 1276 posts, RR: 17 Reply 9, posted (5 years 11 months 5 days 9 hours ago) and read 833 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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