SXFAN
Topic Author
Posts: 361
Joined: Sat Jan 17, 2004 2:20 pm

Hellas Jet About To Cease Operations

Mon Apr 11, 2005 10:52 pm

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.

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[Edited 2005-04-11 16:00:18]

[Edited 2005-04-11 16:01:36]
 
dtwclipper
Posts: 6668
Joined: Wed Oct 29, 2003 3:17 am

RE: Hellas Jet About To Seize Operations

Mon Apr 11, 2005 10:55 pm

Quoting SXFAN (Thread starter):
seize its operations

Seize operations from whom?

Cease operations would be the correct word
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SXFAN
Topic Author
Posts: 361
Joined: Sat Jan 17, 2004 2:20 pm

RE: Hellas Jet About To Cease Operations

Mon Apr 11, 2005 11:04 pm

Sorry my bad  Embarrassment I changed the wrong words.
 
Orion737
Posts: 3044
Joined: Sat Jan 08, 2005 10:14 pm

RE: Hellas Jet About To Cease Operations

Mon Apr 11, 2005 11:25 pm

Im pleased in a way. I dont want to loose Olympic so the less competition on Greek routes the better.
 
olympicbis
Posts: 162
Joined: Thu Nov 25, 2004 6:32 pm

RE: Hellas Jet About To Cease Operations

Tue Apr 12, 2005 2:51 am

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 ?
 
mhodgson
Posts: 4673
Joined: Mon Dec 30, 2002 8:47 pm

RE: Hellas Jet About To Cease Operations

Tue Apr 12, 2005 6:26 am

Shame, they'd just increased frquency to MAN - gave an impression of success!

Quoting Orion737 (Reply 3):
I dont want to loose Olympic so the less competition on Greek routes the better.

Olympic would be long gone were it not for the Greek governments intervention! They need competition to remain competetive on fares and service
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Elagabal
Posts: 195
Joined: Tue Mar 22, 2005 7:40 am

RE: Hellas Jet About To Cease Operations

Tue Apr 12, 2005 8:09 am

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.

Anyone for booking on Aegean?
 
DBCooper
Posts: 163
Joined: Wed Jun 16, 2004 2:51 am

RE: Hellas Jet About To Cease Operations

Tue Apr 12, 2005 11:06 am

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?

Good luck to all Hellas Jet employees.


- DBC
 
LAXintl
Posts: 20183
Joined: Wed May 24, 2000 12:12 pm

RE: Hellas Jet About To Cease Operations

Tue Apr 12, 2005 11:38 am

Its actually sad to see this carrier fail. Hellas provided a decent product and was a refreshing alternative to pathetic Olympic.

Hopefully Aegean Airlines will continue to thrive especially now with its recent agreement with Lufthansa.
From the desert to the sea, to all of Southern California
 
trintocan
Posts: 2728
Joined: Sun Apr 23, 2000 6:02 pm

RE: Hellas Jet About To Cease Operations

Wed Apr 13, 2005 4:25 am

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).

TrintoCan.
Hop to it, fly for life!