Libra shares recover after two days of ‘limit down’

SHARES in Libra Holidays, which is listed on the Cyprus Stock Exchange, began to recover yesterday after two consecutive days of ‘limit down’ since Sunday’s Helios crash.

The company’s shares rose 2.8 per cent to close at 14.8 cents. Since the market reopened on Tuesday, the share has dropped 38 per cent. Last week it was worth 24 cents.

Helios is one of the five main companies of the Libra Group, “but it is not the only one”, Libra Finance Director, Theodoros Antoniou told the StockWatch website.
“The company is already in contact with its insurers. We are fully covered for compensations of up to $0.5 billion. The loss of goodwill will be temporary, while the negative impacts will be restricted,” a Libra official told the website.

He said the Libra Group has not yet entered into talks for the future of Helios Airways. “Our priority is to support the families of the victims. The company will continue its operations and we will support it”, he told StockWatch.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.