Airline grounded.

Maxjet Airways Inc.'s tenure in Los Angeles didn't last long.

In fact, the all-business class airline itself didn't last long.

Maxjet, which operated flights between London's Stansted Airport and three U.S. air ports--including Los Angeles International Airport--abruptly halted operations Dec. 24 and filed for Chapter 7 bankruptcy, leaving jets stranded on runways and forcing passengers to find alternate flights.

The company cited fuel costs as a primary factor in the move.

"With today's fuel prices and the resulting impact on the credit climate for airlines, we are forced to take this drastic measure," said Chief Executive William Stockbridge in a statement posted on the company's Web site. "We are extremely saddened to discontinue a service that we so passionately believe in, and we thank our loyal flyers."

The airline began offering flights in late 2005 and expanded to Los Angeles in August of 2007.

But in October the company canceled service from Washington's Dulles International Airport and in early December it halted trading of its stock on a submarket of the London Stock Exchange. The moves raised some eyebrows, but the company tried to reassure passengers and investors that the company was not in trouble.

The failure of Maxjet leaves just three transAtlantic all-business class airlines--Silverjet Travel Inc., Eos Airlines Inc. and l'Avion. None of the airlines currently serve Los Angeles but Eos plans to offer service from LAX in the future.

Staff reporter Richard Clough can be reached at [phone], ext. 251, or at [e-mail].