latinaviation
Posts: 1162
Joined: Tue Nov 04, 2003 11:25 pm

MAXjet IPO On 14 June

Tue Jun 12, 2007 6:48 am

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
Posts: 175
Joined: Sat Jun 09, 2007 11:28 am

RE: MAXjet IPO On 14 June

Tue Jun 12, 2007 6:51 am

I hope this means more a/c and subsequently more routes from JFK!
 
AlitaliaMD11
Posts: 3704
Joined: Tue Dec 02, 2003 5:19 am

RE: MAXjet IPO On 14 June

Tue Jun 12, 2007 7:24 am

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
 
asuflyer05
Posts: 2053
Joined: Wed Feb 25, 2004 8:53 am

RE: MAXjet IPO On 14 June

Tue Jun 12, 2007 7:57 am

I wonder if they are making money? I guess now that they are publicly traded we will know for sure.
 
latinaviation
Posts: 1162
Joined: Tue Nov 04, 2003 11:25 pm

RE: MAXjet IPO On 14 June

Tue Jun 12, 2007 8:24 am

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.
 
thirteenright
Posts: 175
Joined: Sat Jun 09, 2007 11:28 am

RE: MAXjet IPO On 14 June

Tue Jun 12, 2007 9:22 am

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

That's scary. Hopefully 2007 will be a better year!
 
SkyexRamper
Posts: 1952
Joined: Sun Mar 27, 2005 12:17 am

RE: MAXjet IPO On 14 June

Wed Jun 13, 2007 2:04 am

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
Good Luck to all Skyway Pilots! It's been great working with you!
 
LAXintl
Posts: 20183
Joined: Wed May 24, 2000 12:12 pm

RE: MAXjet IPO On 14 June

Wed Jun 13, 2007 2:07 am

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
 
CHRISBA777ER
Posts: 3715
Joined: Thu Mar 01, 2001 12:12 pm

RE: MAXjet IPO On 14 June

Wed Jun 13, 2007 2:08 am

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
Posts: 1162
Joined: Tue Nov 04, 2003 11:25 pm

RE: MAXjet IPO On 14 June

Mon Jun 18, 2007 11:39 pm

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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