Cyberes ceases trading

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IATA has withdrawn its licence preventing Cyberes from issuing airline tickets, while the Civil Aviation Authority has called in its £1.9 million bond.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.