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MAXjet Post 6 Month Loss  
User currently offlineLaxintl From United States, joined May 2000, 8372 posts, RR: 11
Posted (11 months 1 week 4 days 9 hours ago) and read 6421 times:

No surprise however the red ink continues to flow, with amazingly negative operating margins.

Carrier this week finally reported its 1st half 2007 financials.

Highlights:
Revenues: $27.3mil
Expenses: $59.2mil
Operating Loss: ($31.9mil)
Passengers: 31,186
Avg LF: 67.1%
RASM: 12.9
Ontime Performance: 80.5%

Full filing:
http://www.digitallook.com/news/rns/...2-231550/MAXJ-Interim_Results.html


From the desert to the sea, to all of Southern California
54 replies: All unread, showing first 25:
 
User currently offlineJetBlueGuy2006 From United States, joined Jan 2006, 1227 posts, RR: 1
Reply 1, posted (11 months 1 week 4 days 9 hours ago) and read 6386 times:

How does that compare to the likes of Eos, Silverjet and L'Avion? If someone has the stats, that would be great.


Home Airport: Capital Region International Airport (KLAN)
User currently offlineMcSteve From Netherlands, joined Jul 2005, 50 posts, RR: 0
Reply 2, posted (11 months 1 week 4 days 9 hours ago) and read 6373 times:

I'm no expert but with this kind of result and growing competion shouldn't they just call it a game and stop. They are losing about a 1000 dollars per passenger with these figures amazing!


life is too short to drink bad wine
User currently offlineCaptainsimon From United Kingdom, joined Nov 2006, 93 posts, RR: 0
Reply 3, posted (11 months 1 week 4 days 9 hours ago) and read 6297 times:

Quoting McSteve (Reply 2):
I'm no expert but with this kind of result and growing competion shouldn't they just call it a game and stop. They are losing about a 1000 dollars per passenger with these figures amazing!

Maybe, maybe not! the board do need some serious talk and regenerate their business plan but there is nothing to say that things need to be turned around.
When new airline start business it takes a while to get straight.
Don't forget that when FR started they were losing millions and came close to shutting shop now they are the most profitable airline in Europe.

User currently offlineRJNUT From United States, joined Dec 1999, 895 posts, RR: 0
Reply 4, posted (11 months 1 week 4 days 9 hours ago) and read 6297 times:

the most startling statistic of all is the OT percentage rate..That is abysmal!!!!

WOW,,,and they are trying to put a positive spin on all this??!!

User currently offlineLaxintl From United States, joined May 2000, 8372 posts, RR: 11
Reply 5, posted (11 months 1 week 4 days 9 hours ago) and read 6290 times:

Well EOS and L'Avion are private and dont have to report earnings, however Silverjet for its latest earnings report also showed a loss.

Revenue:£12,8mil
Expenses:£30.9mil
Loss: (£18.2mil)


From the desert to the sea, to all of Southern California
User currently offlineManchesterMAN From United Kingdom, joined Sep 2003, 1009 posts, RR: 0
Reply 6, posted (11 months 1 week 4 days 9 hours ago) and read 6269 times:

I'm a little surprised they aren't doing slightly better as they have some very good fares, particularly from LAX and LAS. I suppose the main issue is that their product isn't really up to scratch (bmi's premium economy compares favourably to maxjet's business class) but then they do price it below competing carriers' business class.

I think they were a little slow getting their cargo operation up and running so they should see an improvement from this side for Q3 and Q4 which will help.


Flown on: AB6,319,320,321,332,333,342,343,346,717,727,732,733,734,735,73G,738,739,744,752,753,762,763,764,772,773,77W,DC
User currently offlineOsprey88 From United States, joined Jul 2007, 298 posts, RR: 0
Reply 7, posted (11 months 1 week 4 days 9 hours ago) and read 6257 times:

Silverjet isn't looking too good either....

They lost 1,742,000 pounds in the six months leading up to 30 September 2006.

[Edited 2007-09-23 23:03:13]


"Reading departure signs in some big airports reminds me of the places I've been"-Jimmy Buffet
User currently offlineLaxintl From United States, joined May 2000, 8372 posts, RR: 11
Reply 8, posted (11 months 1 week 4 days 9 hours ago) and read 6231 times:

Quoting Osprey88 (Reply 7):
six months leading up to 30 September 2007.

Its not even Sept 30th yet...  Yeah sure

Here was their last financial filing from Sept 17th - with the numbers I posted in earlier reply.
http://www.iii.co.uk/investment/detail%3Fcode%3Dcotn:SIL.L&it%3Dle


From the desert to the sea, to all of Southern California
User currently offlineWillyj From United States, joined Oct 2005, 420 posts, RR: 0
Reply 9, posted (11 months 1 week 4 days 9 hours ago) and read 6196 times:

In my opinion Maxjet needs to update their seats so they are more competitive with Silverjet. Their prices are similar, but their hard product is a step below silverjet's.

User currently offlineATLFlyer323 From United States, joined Jan 2005, 370 posts, RR: 0
Reply 10, posted (11 months 1 week 4 days 9 hours ago) and read 6185 times:

Quoting Captainsimon (Reply 3):
Don't forget that when FR started they were losing millions and came close to shutting shop

darnit.  Silly

~Brandon


Everyday, the fluffy temptation of wheat!
User currently offlineWorldTraveler From United States, joined Aug 2003, 4769 posts, RR: 17
Reply 11, posted (11 months 1 week 4 days 9 hours ago) and read 6175 times:

Those are astounding figures. losing more money than you collect in revenue is unsustainable and I find it hard to believe they can become viable fast enough. AA is putting the squeeze on the STN operators and there will undoubtedly be more network carrier coming against these LFCs who want very badly to cut off these notions of transatlantic LFCs before they get started.

User currently offlineCitrusCritter From United States, joined May 2007, 935 posts, RR: 1
Reply 12, posted (11 months 1 week 4 days 8 hours ago) and read 6163 times:

Quoting ManchesterMAN (Reply 6):
(bmi's premium economy compares favourably to maxjet's business class

I could not agree less. MaxJet is 2x2 seating -- no middle seats. BMI's PE has 2x4x2 seating, as does BA. VS may or may not have 2x2 depending on the plane and configuration. Regardless of service, meals, etc. etc., not having a middle seat is superior in my mind.


Proudly from MCO; proud of my hometown airline, AirTran
User currently offlineOsprey88 From United States, joined Jul 2007, 298 posts, RR: 0
Reply 13, posted (11 months 1 week 4 days 8 hours ago) and read 6113 times:

Quoting Laxintl (Reply 8):
Its not even Sept 30th yet..

My bad, make that 2006, lol.


"Reading departure signs in some big airports reminds me of the places I've been"-Jimmy Buffet
User currently offlineUPPERDECKFAN From Spain, joined Jun 2007, 769 posts, RR: 1
Reply 14, posted (11 months 1 week 4 days 8 hours ago) and read 6105 times:

Quoting Laxintl (Reply 5):
Well EOS and L'Avion are private and dont have to report earnings

None of this airlines are state-owned, so what do you mean by "private"?

Quoting CitrusCritter (Reply 12):
I could not agree less. MaxJet is 2x2 seating -- no middle seats. BMI's PE has 2x4x2 seating, as does BA. VS may or may not have 2x2 depending on the plane and configuration

Correct me if I'm wrong, but I think you're comparing a B757 against B767/777

User currently offlineDiesel1 From United Kingdom (Wales), joined Mar 2001, 1513 posts, RR: 9
Reply 15, posted (11 months 1 week 4 days 8 hours ago) and read 6072 times:

Quoting Osprey88 (Reply 7):
Silverjet isn't looking too good either....

They lost 1,742,000 pounds in the six months leading up to 30 September 2006.

They hadn't launched services at this point, so the loss is irrelevant.

Quoting UPPERDECKFAN (Reply 14):
None of this airlines are state-owned, so what do you mean by "private"?

Without shareholders


I don't like signatures...
User currently offlineLaxintl From United States, joined May 2000, 8372 posts, RR: 11
Reply 16, posted (11 months 1 week 4 days 8 hours ago) and read 6066 times:

Quoting UPPERDECKFAN (Reply 14):
so what do you mean by "private"?

Private = Not publicly owned companies that trade on the stock market.


From the desert to the sea, to all of Southern California
User currently offlineJacobin777 From United States, joined Sep 2004, 12518 posts, RR: 55
Reply 17, posted (11 months 1 week 4 days 8 hours ago) and read 6026 times:

Quoting WorldTraveler (Reply 11):
Those are astounding figures. losing more money than you collect in revenue is unsustainable


..interesting you would make that comment considering DL was just in that seat no more than a few months ago....

[Edited 2007-09-23 23:27:16]


"Up The Irons!"
User currently offlineEXAAUADL From United States, joined Jun 2006, 3229 posts, RR: 0
Reply 18, posted (11 months 1 week 4 days 7 hours ago) and read 5946 times:
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Quoting Jacobin777 (Reply 17):
..interesting you would make that comment considering DL was just in that seat no more than a few months ago....

Delta never had a negative 100% profit margin

User currently offlineJacobin777 From United States, joined Sep 2004, 12518 posts, RR: 55
Reply 19, posted (11 months 1 week 4 days 7 hours ago) and read 5864 times:

Quoting EXAAUADL (Reply 18):
Quoting Jacobin777 (Reply 17):
..interesting you would make that comment considering DL was just in that seat no more than a few months ago....

Delta never had a negative 100% profit margin

.....but they were still hemorrhaging massive amounts of money at the end of the day....anyway, reading the numbers from the link provided, revenue is improving quite nicely and a lot of the expense was due to fleet acquisition....we'll have a better "feel" as to how MaxJet is doing 10-12 months from now (provided they aren't still in "expansion mode" and adding planes to the fleet)...


"Up The Irons!"
User currently offlineCitrusCritter From United States, joined May 2007, 935 posts, RR: 1
Reply 20, posted (11 months 1 week 4 days 7 hours ago) and read 5859 times:

Quoting UPPERDECKFAN (Reply 14):
Correct me if I'm wrong, but I think you're comparing a B757 against B767/777

No, MaxJet flies 762s. It's Eos that uses 757s. My comparison for BD was a A330-200, for BA 747 and 777, and for VS both the A346 and B747, all configurations.


Proudly from MCO; proud of my hometown airline, AirTran
User currently offlineManchesterMAN From United Kingdom, joined Sep 2003, 1009 posts, RR: 0
Reply 21, posted (11 months 1 week 4 days 7 hours ago) and read 5859 times:

Quoting CitrusCritter (Reply 12):
I could not agree less. MaxJet is 2x2 seating -- no middle seats. BMI's PE has 2x4x2 seating, as does BA. VS may or may not have 2x2 depending on the plane and configuration. Regardless of service, meals, etc. etc., not having a middle seat is superior in my mind.

Incorrect. bmi's PE is 2-2-2 on the A330 with a 49" pitch and 21" seat width (the seats they use are actually the old business class seats). The first reconfigured aircraft is in service between MAN and ORD now and the other 2 aircraft will be refitted by the end of the month. FYI the new business class features a nice 80" pitch and 26" width.


Flown on: AB6,319,320,321,332,333,342,343,346,717,727,732,733,734,735,73G,738,739,744,752,753,762,763,764,772,773,77W,DC