All Cyprus Airways ticket holders have up to February 28 to either be refunded or make alternative travel arrangements, the government said on Tuesday.
Those who do not exercise this right by February 28 will not be able to make a claim, an announcement said.
Ticket holders are asked to contact either travel agencies licensed by the Cyprus Tourism Organisation. The CTO itself has no involvement and ticket holders should not call there.
The state has commissioned Top Kinisis (77787878 or 22 869999) to deal with ticket holders. People can either ask for an alternative travel arrangement or be fully refunded for their purchase.
Cyprus Airways was grounded in January after the European Commission ruled that a state aid package was in violation of competition regulations. The company was ordered to return €65 million, which triggered the shutdown.