TUI of Switzerland decided on Friday to cancel its contracts with Helios Airways, few days after the crash of Boeing 737 in Greece. The subsidiary of the international tourist giant, which brings thousands of tourists in Cyprus each year, is no longer cooperating with the Cypriot air company, after latest reports that the Swiss authorities are re-examining the landing permit of Helios, German financial newspaper Handelsblatt reported. The information has been confirmed to StockWatch by a Helios official.
On the other hand, Helios supports that its cooperation with the other companies will continue normally, stressing that the cancellation is an isolated example. “The flights will continue normally. There is also an overheating of the reservations abroad”, Helios Sales Manager, Nikos Anastasiades said.
The Cyprus Tourism Organization is keeping abreast with the latest developments. CTO Chairman, Fotis Fotiou insists that the impacts of the air crash on the island’s tourism are restricted but he is highly concerned about Libra, the parent company of Helios, which brings more than 100 thousand tourists in Cyprus.
Libra
The future of Libra Holidays Group - a company listed in the CSE – will largely depend on its stance at the current stage. Although the Company’s Board of Directors has not taken critical decisions for the future yet, the first movements of the major shareholder and Managing Director, Andreas Drakos are indicative to his future business plans.
Specifically, Mr. Drakos’ participation in the press conference held on Monday is possibly a sign of Libra’s intention to support Helios.
The share of the listed company, however, lost 40% in two CSE sessions, before recovering partly on Thursday and Friday. Within the next few days, Libra is expected to give further details on the economic impacts of the crash. Certain officials say that Helios is fully covered by the insurance and any loss of goodwill will be short dated.
Word confuse
Meanwhile, newspaper “Phileleftheros” reveals the communication between the German pilot and the British chief engineer before the crash. The former reported that computers had frozen, while the latter thought that there was a problem with the air-conditioning. Their communication was interrupted. On the other hand, Chairman of the competent investigation committee, Akrivos Tsolakis said that at his request of the tape, he was told that no communication has been registered. Newspaper sources say that the communication was completed at 9.28 am.
Mr. Tsolakis also stated that investigations go well and the possibility of a shooting down of the plane by the two F-16 has been rejected.
On the other hand, Helios supports that its cooperation with the other companies will continue normally, stressing that the cancellation is an isolated example. “The flights will continue normally. There is also an overheating of the reservations abroad”, Helios Sales Manager, Nikos Anastasiades said.
The Cyprus Tourism Organization is keeping abreast with the latest developments. CTO Chairman, Fotis Fotiou insists that the impacts of the air crash on the island’s tourism are restricted but he is highly concerned about Libra, the parent company of Helios, which brings more than 100 thousand tourists in Cyprus.
Libra
The future of Libra Holidays Group - a company listed in the CSE – will largely depend on its stance at the current stage. Although the Company’s Board of Directors has not taken critical decisions for the future yet, the first movements of the major shareholder and Managing Director, Andreas Drakos are indicative to his future business plans.
Specifically, Mr. Drakos’ participation in the press conference held on Monday is possibly a sign of Libra’s intention to support Helios.
The share of the listed company, however, lost 40% in two CSE sessions, before recovering partly on Thursday and Friday. Within the next few days, Libra is expected to give further details on the economic impacts of the crash. Certain officials say that Helios is fully covered by the insurance and any loss of goodwill will be short dated.
Word confuse
Meanwhile, newspaper “Phileleftheros” reveals the communication between the German pilot and the British chief engineer before the crash. The former reported that computers had frozen, while the latter thought that there was a problem with the air-conditioning. Their communication was interrupted. On the other hand, Chairman of the competent investigation committee, Akrivos Tsolakis said that at his request of the tape, he was told that no communication has been registered. Newspaper sources say that the communication was completed at 9.28 am.
Mr. Tsolakis also stated that investigations go well and the possibility of a shooting down of the plane by the two F-16 has been rejected.
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