9th Jan 2015 18:05
LONDON (Alliance News) - Ryanair Holdings PLC Friday said it will offer "rescue fares" for customers affected by the collapse of Cyprus Airways earlier today after the European Commission ordered the Cyprian airliner to pay back slightly more than EUR65 million in illegal state aid.
Ryanair said the fares will start from EUR49.99 and "will help customers left stranded following the closure of Cyprus Airways," it said in a statement. The tickets will be available to customers travelling between January 9 to January 16.
Ryanair will be offering flights from Athens and Thessaloniki to Paphos at EUR49.99, whilst flights from London Stansted to Paphos will start at GBP69.99.
Cyprus Airways saw its operations suspended earlier today after Cypriot Finance Minister Harris Georgiades said the national carrier could not afford to repay the sum owed and said an administrator would be appointed to the company.
The government has said it will offer alternative arrangements to all passengers who have Cyprus Airway tickets.
Ryanair shares closed up 0.9% to 9.43 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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