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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Maxjet | LSE:MAXJ | London | Ordinary Share | COM STK USD0.05 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 75.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3382Y MAXjet Airways Inc. 14 June 2007 14 June 2007 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR SOUTH AFRICA. MAXJET AIRWAYS, INC FIRST DAY OF TRADING ON AIM & MAY PASSENGER STATISTICS MAXjet Airways, Inc ("MAXjet" or the "Company"), the first low-fare, all-business class airline flying between the UK and US, today announces the first day of trading of its Common Shares on AIM. MAXjet also announces its passenger statistics for May 2007. The Company achieved a systemwide load factor of 76.9%, representing an increase of 1.5 percentage points over the corresponding figure for April 2007. In May 2007 the New York load factor was ahead of the airline's systemwide average. This systemwide load factor exceeds the forecast load factor of 74.3% made by the Company as of 30th April 2007 for the purposes of inclusion in its Pathfinder AIM Admission Document. The total number of revenue passengers in May was 6,636. Passenger traffic, expressed in Revenue Passenger Kilometres (RPKs) reached 42.82m. The monthly capacity for May, expressed in Available Seat Kilometres (ASKs), reached 55.67m. Year to date, ASKs reached 240.75m and RPKs were 151.77m. This reflects all scheduled service traffic marketed by MAXjet. Expressed in Imperial units, MAXjet's Revenue Passenger Miles (RPMs) in May 2007 were 26.61m and cumulative RPMs for 2007 were 94.30m. MAXjet's Available Seat Miles (ASMs) in May 2007 were 34.59m and cumulative ASMs for 2007 were 149.6m. Summary of the Placing: * 36.6 million Common Shares have been placed with investors at 138 pence per share * Based on the Placing Price, the market capitalisation of the Company on Admission will be #96.1 million ($190.2 million) * The placing is intended to raise #47.3m ($93.7 million) net of expenses * The number of Common Shares in issue on Admission will be 69.6 million * MAXjet intends to use the proceeds raised from the placing to repay pre-IPO bridge loans and execute its expansion strategy * LSE ticker symbol MAXJ Bill Stockbridge, CEO, MAXjet Airways, Inc commented, "I am delighted that we have completed our Admission to AIM. MAXjet pioneered low-cost, all-business class travel between the UK and US having identified exciting growth opportunities within this segment. The start-up phase is complete and, with this successful fundraising, we can invest in the next stage of our development. The strong load factor for May underlines the strength of demand from passengers who want to travel on our established, low-fare all-business class airline between London and cities across the US." 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 ENDS The contents of this announcement, which have been prepared by and are the sole responsibility of MAXjet, have been approved by Panmure Gordon (UK) Limited ("Panmure Gordon"), of 155 Moorgate, London EC2M 6XB, solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000. Panmure Gordon is acting exclusively for MAXjet and no-one else in connection with the offer and will not be responsible to anyone other than MAXjet for providing the protections afforded to the clients of Panmure Gordon, nor for providing advice in relation to the offer, the contents of this announcement or any transaction, arrangement or other matter referred to herein. This announcement does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, the securities referred to herein to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for release, publication or distribution in or into the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), and may not be offered or sold within the US or for the account or benefit of a US person except in certain transactions exempt from the registration requirements of the US Securities Act. The securities referred to herein have not been and will not be registered under the applicable securities laws of any province or territory of Australia, Canada, Japan, the Republic of Ireland or South Africa and may not be offered or sold within Australia, Canada, Japan, the Republic of Ireland or South Africa or to, or for the account or benefit of citizens or residents of Australia, Canada, Japan, the Republic of Ireland or South Africa. This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include matters that are not historical facts and include statements regarding the Company's intentions, beliefs or targets. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. A number of factors could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements in this document reflect the Company's view with respect to future events as at the date of this announcement and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's operations, results of operations and growth strategy. Save as required by law or any applicable rule or regulation, the Company undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement. This announcement does not constitute a recommendation concerning the proposed admission to AIM or the offer. The value of shares can go down as well as up. Past performance is not a guide to future performance. Potential investors should consult a professional advisor as to the suitability of the offer for the individual concerned. This information is provided by RNS The company news service from the London Stock Exchange END MSCSFISMLSWSEDM
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