History
Cyprus Turkish Airlines was established on 4 December 1974 in Nicosia with shares equally divided between THY and the Cash Development of the Consolidated Fund of the Assembly of the Turkish Cypriot Community (Konsolide Fonu Inkisaf Sandigi). The first scheduled flight was operated on the 3 February 1975.
In 2005 the Turkish government sold its shareholding to Ada Havayollari.
To avoid bankruptcy due to a $100 million debt, the management had decided to sell the company in June 2010. After the end of the bidding period, the Turkish carrier Atlasjet was the only bidder.
On 21 June 2010, the airline announced via their website that they had ceased all operations until further notice and eight days later, on 29 June 2010 it was announced that the airline had gone out of business.
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Famous quotes containing the word history:
“Regarding History as the slaughter-bench at which the happiness of peoples, the wisdom of States, and the virtue of individuals have been victimized—the question involuntarily arises—to what principle, to what final aim these enormous sacrifices have been offered.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“We know only a single science, the science of history. One can look at history from two sides and divide it into the history of nature and the history of men. However, the two sides are not to be divided off; as long as men exist the history of nature and the history of men are mutually conditioned.”
—Karl Marx (1818–1883)
“The principle that human nature, in its psychological aspects, is nothing more than a product of history and given social relations removes all barriers to coercion and manipulation by the powerful.”
—Noam Chomsky (b. 1928)