Maxjet 'talks over future'

Struggling low-fare business class airline Maxjet has been locked in last-ditch talks over securing a financial rescue package for the company, it was reported today.

According to the Financial Times newspaper, discussions have going on over the weekend in an attempt to put the Stansted-based operator on a firmer financial footing.

The carrier could reveal the outcome of the talks as soon as today, the FT said.

Trading in London of Maxjet’s shares was suspended on December 7 while the business “clarified its financial position”.

The only statement the company has issued since came two weeks ago when it said it was operating all flights and had no plans to change its schedule.

Maxjet introduced its all-business-class service with a fleet of Boeing 757s between New York and Stansted in November 2005, with tickets priced from £599 (€825).

It has also since launched routes to and from Las Vegas and Los Angeles.

The company posted a net loss of US$49.5m (€34m) for the first six months this year, suffering from high fuel costs and higher-than-expected maintenance costs.

Maxjet was floated in May this year at a price of 138p a share, with shares suspended at 73.5p.

A spokesman for the firm was unavailable for comment.