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Bye Bye Ajet, Hello XL  
User currently offlineCYatUK From United Kingdom, joined Apr 2006, 810 posts, RR: 0
Posted (7 years 11 months 1 week 2 hours ago) and read 2874 times:

Today's Cypriot newspapers report that XL are establishing a small base at Cyprus to cover ajet's operations. The newspaper talks about 2 aircraft based at LCA/PFO and operating mainly to the UK.

Airline officials are in talks with Cypriot Ministry of Transport, to explore the possibility of XL employing 100 of ajet staff for the two planes.


CY@Uk
4 replies: All unread, jump to last
 
User currently offlineCwldude From United Kingdom, joined May 2006, 691 posts, RR: 1
Reply 1, posted (7 years 11 months 1 week 2 hours ago) and read 2849 times:

Very interesting news... would like to see this materialise  Smile 737's I take it?


Thomson Airways - The UKs premier charter airline // now flown : BY -AA -AJ -AE -AT; OO -AX -AU -RA -BG; BRIG; OBYD
User currently offlineBCAL From United Kingdom, joined Jun 2004, 3384 posts, RR: 15
Reply 2, posted (7 years 11 months 6 days 12 hours ago) and read 2591 times:

Not surprising news, since ajet (Helios) was majority-owned by Libra Holidays which is owned by the same parent company as XL.

Helios could never recover from the aftermath of the crash of 5B-DBY in August 2005, and many people are convinced that the airline and its management were negligent. The attempt to rebrand (which the airline denied had anything to do with the crash) was unsuccessful and Libra now needs an airline to cater for its holidays and flights to Cyprus. What better than their own airline, Excel, who already has a reputation (albeit deteriorating)?



MOL on SRB's latest attack at BA: "It's like a little Chihuahua barking at a dying Labrador. Nobody cares."
User currently offlineSteady Eddie From United Kingdom, joined Mar 2002, 179 posts, RR: 0
Reply 3, posted (7 years 11 months 6 days 11 hours ago) and read 2538 times:

Quoting BCAL (Reply 2):
What better than their own airline, Excel, who already has a reputation (albeit deteriorating)?

BCal,
Libra do not own XL. XL is now 100% owned by the directors who participated in the MBO, prior to that it was owned by the Avion group.

Regarding your second comment, I assume you're another armchair CEO....


User currently offlineBCAL From United Kingdom, joined Jun 2004, 3384 posts, RR: 15
Reply 4, posted (7 years 11 months 6 days 7 hours ago) and read 2422 times:

Quoting Steady Eddie (Reply 3):
Libra do not own XL. XL is now 100% owned by the directors who participated in the MBO, prior to that it was owned by the Avion group.

Thanks for the correction.

That is the current position. However, XL was originally set up by Libra who retained an 80% shareholding in the airline. Libra sold their stake to Air Atlanta (as it was then known), and went on to buy Helios. So with these past connections it is not surprising that Libra has returned to XL now that Helios/ajet are no more.



MOL on SRB's latest attack at BA: "It's like a little Chihuahua barking at a dying Labrador. Nobody cares."
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