Helios Airways was a low-cost Cypriot airline operating scheduled and charter flights between Cyprus and many European and African destinations. It had its corporate headquarters on the grounds of Larnaca International Airport in Larnaca. Its main base was Larnaca International Airport. Flights ceased on 6 November 2006 because the company's aircraft were detained and its bank accounts frozen by the Government of Cyprus.

The airline was established as Helios Airways on 23 September 1998 and was the first independent privately owned airline in Cyprus. On 15 May 2000, it operated its first charter flight to London Gatwick. It was formed by the owners of TEA (Cyprus), a Cypriot offshore air operator specialising in Boeing 737 wet leases worldwide. Originally, it offered charter services and scheduled services to destinations including Athens, London, Manchester, Amsterdam, Edinburgh, Prague, Sofia, Bournemouth, Cairo, Paris, Dublin and Warsaw. Helios Airways was acquired in 2004 by Libra Holidays Group of Limassol, Cyprus.

On 14 August 2005, Helios Airways Flight 522 crashed near Grammatiko, Greece, as the crew was incapacitated due to lack of oxygen, all 121 passengers and crew were killed. The investigation concluded that both maintenance crews and the pilots had failed to ensure the pressurization system was set to "automatic", and as a result, the plane never pressurized. The accident revealed many problems with safety of the airline and led to manslaughter charges against five airline officials.

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