CYatUK
Topic Author
Posts: 388
Joined: Mon Apr 17, 2006 2:21 am

Bye Bye Ajet, Hello XL

Fri Nov 24, 2006 3:17 am

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
 
cwldude
Posts: 573
Joined: Mon May 08, 2006 2:17 am

RE: Bye Bye Ajet, Hello XL

Fri Nov 24, 2006 3:31 am

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
 
BCAL
Posts: 2925
Joined: Mon Jun 28, 2004 10:16 pm

RE: Bye Bye Ajet, Hello XL

Fri Nov 24, 2006 5:24 pm

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."
 
steady eddie
Posts: 182
Joined: Mon Mar 18, 2002 6:43 pm

RE: Bye Bye Ajet, Hello XL

Fri Nov 24, 2006 6:26 pm

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....
 
BCAL
Posts: 2925
Joined: Mon Jun 28, 2004 10:16 pm

RE: Bye Bye Ajet, Hello XL

Fri Nov 24, 2006 10:53 pm

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."