AJet, the successor to Helios Airways, is to cease operations within three months according to a report by Reuters. The owning company, Libra Holidays, cited financial problems as the cause of its decision, although the airline has never recovered after one of its ”planes crashed in 2005.
On August 14 2005 a Helios Airways Boeing 737-300 on route from Larnaca in Cyprus to Prague, crashed in Greece killing all 121 people on board. The crash was due to lack of fuel, but the investigator”s report also cited insufficient technical checks, poor piloting, and a general inadequacy of safety at Helios.
According to Reuters AJet will remain an entity in a legal sense only, due to financial claims against third parties.