PRESS DIGEST - FINANCIAL TIMES - DEC 8 =5
Trading in the shares of Maxjet Airways, one of the new breed of all-business class long-haul airlines, was suspended in London on Friday after the group, which started flying transatlantic services in November 2005, struggled to put together a financial rescue. The company sustained losses of $31.9 million in the first six months of the year after being affected by higher than expected costs from aircraft maintenance and rising fuel prices while expanding its transatlantic operations.
STAR ENERGY CASTS NET FOR WHITE KNIGHT
The Aim-listed gas storage company Star Energy STAR.L is looking for a rival bidder as part of its defence against the 340 million pound takeover offer launched last month from the Malaysian national oil company Petronas (PETR.KL). Star made its first response to the offer on Thursday night, saying that the bid from Petronas failed to reflect the company's value. Petronas hopes that the deal would give it a significant position in Britain's gas storage industry.
Prepared for Reuters by Durrants.
