FLIGHT
consolidator Cyberes and its subsidiary Corporate Travel International have
both ceased trading.
Administrators
PricewaterhouseCoopers have been called in to sell both companies.
IATA
has withdrawn its licence preventing Cyberes from issuing airline tickets, while
the Civil Aviation Authority has called in its £1.9 million bond.
Harrogate-based
Cyberes was set up by Tariq Malik in July 2000 and had an annual turnover of
£15 million.
Its
acquisition of Corporate Travel International, which has annual turnover of £35
million, was completed in February this year.