9th Oct 2007 07:00
MAXjet Airways Inc.09 October 2007 9 October 2007 MAXJET AIRWAYS INC. ("MAXjet" or the "Company") KEY NETWORK DEVELOPMENTS MAXjet today announces a number of route developments which will be implementedover the winter season. Summary * New York service to increase to ten weekly flights * Service to Las Vegas to increase to six weekly flights * Service to Los Angeles to increase to five weekly flights * Additional aircraft and crew for expansion in these other markets to be made available through phased suspension of Washington service * Fifth aircraft has entered revenue service; provides operating spare for the fleet New York MAXjet will launch double-daily services on Mondays, Fridays and Sundays betweenLondon Stansted and New York JFK starting on 1 March 2008. In addition, MAXjetwill offer double-daily departures on peak days during the rest of the winterseason. A new morning departure from London Stansted and earlier evening returnfrom New York will offer business travelers a choice of convenient frequencies. Las Vegas MAXjet will continue its expansion in the Las Vegas market with two newfrequencies. A new Wednesday frequency will commence on 5 December 2007. The new departurewill leave London Stansted at 10:55am, arriving Las Vegas at 2:30pm. The returnflight will depart Las Vegas at 5:00pm. A new weekend frequency will commence on 15 February 2008. The new Fridaydeparture from the United Kingdom will offer vacationers a convenient 4pmdeparture, arriving Las Vegas at 7:30pm. On Saturdays MAXjet will introduce anew 1pm departure from Las Vegas, arriving 7am on Sunday morning, complementingthe existing 5pm departure. With this expansion, MAXjet will offer departures from London to Las Vegas everyday but Tuesday. The weekly schedule has therefore been optimized for bothbusiness and leisure customers. Los Angeles MAXjet's new service to Los Angeles has already generated strong customertraction from both business and leisure customers. As a result, MAXjet willintroduce a fifth weekly departure commencing on 5 December 2007. This newWednesday frequency will depart London Stansted at 9:30am and arrive Los Angelesat 1:00pm. The return flight departs at 5:00pm. Washington MAXjet has operated a service to Washington since April 2006. While the routehas shown year-over-year improvements, MAXjet has decided to redeploy thisaircraft to accelerate expansion of its other fast-growing routes. As a result,services to Washington will be phased out with the start of the winter season toenable the new frequencies listed above. Fifth Aircraft MAXjet's fifth aircraft entered revenue service on 5 October 2007. The airlinenow operates a fleet of five B767 aircraft. Operating Spare MAXjet's schedule has been designed to maximize the availability of a spareaircraft. This spare will be available even with the schedule enhancementsdescribed above. Full Year Guidance The net impact of the schedule changes described above during the currentcalendar year is expected to be not more than $3 million in revenue. Full yearguidance including these changes is not less than $77 million in revenue for theyear. Bill Stockbridge, CEO of MAXjet, commented: "Almost two years ago we pioneered the all-business class model with ourinaugural flight between London and New York and from this foundation we haveexpanded to other major cities in the US. The detailed understanding of ourroutes that we have gained enables us to best meet our customer demand. I amtherefore thrilled to announce expansion in our New York, Los Angeles and LasVegas markets. These new services will provide our customers with greaterflexibility and will also strengthen our position as segment leader." For further information, please contact: MAXjet Airways, Inc +1 703 574 6600 Bill Stockbridge, CEO John Severson, CFO Josh Marks, EVP, Head of Strategy & Route Development Panmure Gordon, Nominated Adviser and Broker +44 207 459 3600 Grant Harrison Andrew Potts Chris Bucknall FD +44 207 831 3113 Ben Foster Charlie Watenphul Notes to Editors MAXjet Airways introduced the affordable all-business class segment, startingservice between London Stansted and New York (JFK) in November 2005. Sincelaunching the low-fare all-business class segment MAXjet has carried over110,000 passengers and introduced new services from London to cities across theUnited States. MAXjet offers the amenities of Business Class, including fast check-in securityclearance, departure lounges, padded leather seats with 170 degrees of reclineand 60" seat pitch, gourmet meals and an arrivals facility at Stansted, at farescomparable to flexible Economy Class. MAXjet offers convenient flight schedules with evening departures from citiesacross the United States and return flights from Stansted that appeal to bothbusiness and leisure passengers. MAXjet has attracted a customer base of small business, large business andaffluent leisure consumers with significant repeat business and high customersatisfaction. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Max Buffer June