Cyprus Mail

Helios relatives to receive €3m in state aid

Helios plane crash, August 14, 2005

The cabinet has decided to provide €3m in assistance to 32 relatives of people who died in the Helios Airways crash in 2005, it was reported on Wednesday.

The decision was made taking into account the financial difficulties faced by a number of relatives who suffered losses during the March 2013 crisis, which saw the island’s second biggest bank, Laiki, shut down, and almost half of deposits over €100,000 at Bank of Cyprus, the biggest, seized for recapitalization purposes.

Nine of the 32 are minors.

The assistance will be given in five equal annual instalments starting this year. Amounts under €25,000 will be paid in one instalment. Amounts between €25,000 and €50,000 will be paid in two parts in 2016 and 2017.

All 121 passengers and crew were killed on August 14, 2005, when the Helios Boeing 737 crashed in Greece after the crew were incapacitated due to a lack of oxygen.

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