AXON Airlines, Member of the AXON Group of companies, which has 12 profitable companies, announces the cease of its operations.

The international crisis, which hit the companies of the sector, after the terror attack of September 11, 2001 in USA, is becoming worse, the losses are increased impressively and the recovery is not visible in the near future.

In 1999, Axon Airlines having a developing business plan invested in modern aircrafts and specially trained human resources for the service and the safety of the passenger.

The radical and total capsize of the market conditions cancelled the planning of the company and led the company to the cease of operations.

The company thanks its human resources that assisted to the materialization of the visions of the company by its work.

It also thanks all the persons and factors that participated to the privatization of Olympic Airways, a fact, which the company wishes to result in favor of the company itself, the clients and the Greek citizens.

If the domestic and international conditions change, AXON Airlines will re-consider both the possibility of its re-operation and the materialization of the developing planning.