LIBRA Holidays Group has purchased Helios Airways for
£2.3 million and revealed plans to expand its Cypriot tour
operations by tapping into the airline’s flight
network.
Helios flies 13 times a week to Cyprus from the UK during summer
and has services from Cyprus to Sophia in Bulgaria and Warsaw in
Poland – markets Libra also hopes to tap into.
Sales and marketing director Paul Riches said Libra Holidays has
12 Cypriot hotels and is looking to increase its business to the
destination.
The sale of Libra’s 30% stake in Excel Airways last month
for £30 million – it still owns a 4.6% share –
means Libra “now wants to plough a lot of money back into
operations”, added Riches.
Contracts with Excel will be honoured for the next five years.
“We will continue to fill a percentage of Excel’s seats,” he
said.
Helios’ UK staff, totalling 185 during summer, have been
assured their jobs are safe in a letter from outgoing chairman
George Mouskas.
Helios sales and marketing manager for the UK and Ireland
Richard Ledger said Mouskas told employees his successor had plans
to “expand activities” and buy more aircraft, but said staff had
not yet received details of Libra’s plans.
“More than 100,000 people a year come to Cyprus on holiday so it
will strengthen both parties. It is expected the total number of
employees at Helios will increase,” Ledger said.
UK staff have been told they will move from their office in
Edgware to Libra’s East Barnet office in December.
Ledger said he hoped Helios – which draws more than 90% of
its business from scheduled flights and the rest from chartered
services – would remain independent of Libra