MAXjet Airways said it will operate as normal despite suspending trading in its shares as executives seek fresh investment.
The all-business class airline flies daily from Stansted to New York and Los Angeles. It requested the suspension last Friday “pending clarification of its financial position”.
MAXjet is registered in the US, but is listed on London’s Alternative Investment Market, where its shares have recently halved in value.
Analysts blamed the carrier’s mounting deficit – it lost £16 million in the first six months of the year – on the high price of fuel and greater-than-expected aircraft maintenance costs.
MAXjet launched Stansted-New York JFK services two years ago. It competes with US-rival Eos and UK-registered Silverjet in the transatlantic business-only market. But all three aim to take traffic from established carriers such as British Airways.