We all saw this coming didn’t we? Especially after the airline recently halted trading in its shares on the Alternative London Stock Exchange. The company said at the time that it was “seeking new financing,” but with oil reaching new all-time highs — this shutdown should not have come as a surprise to many.

Still — it’s Christmas Eve. Not a good day to shut the doors and file for Chapter 11. Then again, I guess no day is a good day.

The airline is to be commended however, for trying to take care of its passengers.

According to press reports, and based on what the airline has posted on its own website, “MAXjet has contracted with Eos Airlines for seats on Eos’ scheduled all-Premium service to accommodate passengers awaiting a return flight between New York and London. Passengers needing return travel between London, Los Angeles and Las Vegas will be contacted regarding their flight re-accommodations. Any customers who choose to make flight accommodations directly should seek a refund from their point of purchase (credit card or travel agency) for the unused leg of their journey. We have also secured hotel rooms in London, New York, Las Vegas and Los Angeles through early January 2008 which we will provide to affected passengers whose travel plans have been disrupted.”

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