Libra to transfer Helios ops to Ajet

Libra Holidays Group (LHG) confirmed press reports that it has applied to the Cyprus Civil Aviation seeking to change the name and operations of Helios Airways to Ajet Airways.

In an official CSE announcement, Libra said that due to the serious problems that Helios Airways Ltd encountered just after the tragic accident of August 2005, Helios considered to pass its operations to Ajet Airways Ltd., which was registered on 20th January 2006 and is owned 100% by Libra Holidays Group Public Ltd.

Under the presumption that all necessary approvals and consents are issued by the relevant authorities, the lease agreements of the aircraft operated by Helios will be reassigned to ajet which will operate basically as charter flight airline.

Due to the presumption as aforesaid, there has been no announcement yet since the Libra Holidays Group waited to first obtain the said licences and just then to proceed with the related announcement.

In any case, this issue involves in-house restructuring of two wholly owned subsidiaries of the Group and has no financial consequences to the Group whatsoever.