November 2022, Virtual
21 November 2022, Hilton London Metropole
CYPRUS AIRWAYS has confirmed that a buyer for Greek subsidiary Hellas Jet has not been found, setting in motion the process for its closure in May. The airline, majority owned by the Cyprus government, created Hellas Air in 2003 as a fallback due to its frustrations over a possible acquisition of Olympic. With the exception of the short Olympic period it has not met expectations and clearly the airline, with its own financial problems, could not sustain continued losses. Also on the Greek front bids for Olympic were due in last week with Athens-based Aegean thought to be a front-runner.