Feature Stories

WSJ: MAXjet Airways Grounds All Flights, Files for Bankruptcy Court Protection

MAXjet Airways Inc., a two-year-old, all-business class airline serving trans-Atlantic routes, ceased operations Monday and filed for bankruptcy-court protection in the face of high fuel prices, fierce competition and a failure to raise new capital.

The carrier, based in Dulles, Va., and traded on London's Alternative Investment Market, apologized to passengers for stranding them on Christmas Eve. MAXjet said on its Web site that it contracted with rival Eos Airlines Inc. to carry passengers trying to return to New York's John F. Kennedy International Airport or London's Stansted Airport.  Read the complete article in the Wall Street Journal.  Subscription may be required.