SXFAN From Greece, joined Jan 2004, 371 posts, RR: 14 Posted (8 years 11 months 2 days 17 hours ago) and read 3472 times:
It was published yesterday by the Greek newspaper eleftherotypia http://www.enet.gr that the Greek branch of Cyprus Airways called Hellas Jet will cease its operations during May because of heavy losses (approx. 60 M Euros) after only two years of operations. The airline was flying from its Athens base to LHR, LGW, CDG, BRU & MAN.
Some days ago the Cypriot minister of transportation Mr. Ch. Thrasou had told that they had been searching for a buyer or the company would go under and yesterday the Cypriot minister of commerce Mr. G. Lillikas announced that a decision for a controlled cease of operation was decided.
So goodbye to the only three registered in Greece, A320 aircrafts.
Olympicbis From , joined Dec 1969, posts, RR:
Reply 4, posted (8 years 11 months 2 days 13 hours ago) and read 3291 times:
Come on Olympic,
Upgrade your fleet, retrain some of your FA's, bring in a new scheme / corporate ID, team up with some alliance...
To stay objective, this is too bad for Hellas Jet, as they were even delivering a pretty good inflight service. Even SN trusted them and code-shared on the BRU-ATH route. Now what is SN going to do there ? Take one more A319 and operate at lest two daily flights ( what I would do ) or code-share with OA ?
Elagabal From United Kingdom, joined Mar 2005, 197 posts, RR: 0
Reply 6, posted (8 years 11 months 2 days 8 hours ago) and read 3130 times:
Quoting Mhodgson (Reply 5): Olympic would be long gone were it not for the Greek governments intervention! They need competition to remain competetive on fares and service
Bullseye. It won't be long now (mid-May?) until the EU's latest response to the Greek government, regarding their (Athens's) timeliness and completeness in returning illegal state aid. (Yes, it was determined to be illegal - not just queried, as is the case currently with a certain other heavily-subsidized European carrier.) Should make interesting reading at the very least.
If the EC demands that some more funds need to be garnished from OA, HellasJet may not be the only ones with their days numbered.
DBCooper From Brazil, joined Jun 2004, 191 posts, RR: 0
Reply 7, posted (8 years 11 months 2 days 5 hours ago) and read 3092 times:
I flew T4 ATH->LHR about a year ago. A very nice, on-time product. Too bad they couldn't make a go of it. One problem they had was an inability to feed themselves at ATH...all traffic was essentially point-to-point with the exception of the SNBrussels codeshare which offered some connecting synergies at BRU.
So - what will happen to their slots at LHR, CDG, etc? Will CY pick these up or will they go back into the "pool"?
And - what will happen to their aircraft? 2 new 320s and 1 used. From what I have been reading about CY, they will not be picking these up (aren't they unloading aircraft?). Returned to lessors?
Trintocan From United Kingdom, joined Apr 2000, 3215 posts, RR: 4
Reply 9, posted (8 years 11 months 1 day 12 hours ago) and read 2944 times:
This is a sad story, it seems that airlines the world over are suffering greatly. The story of Greece parallels that of the Caribbean, namely of State run carriers needing massive subsidies to stay afloat and limited success of private sector operators. As for those 3 A320s of Hellas, maybe CY may take them on-board as it has been standing down some of its own Airbuses (including the one which will soon be scrapped in Opa Locka).