Cypriot businessman Nicos Shacolas passes away at 99

Prominent Cypriot businessman Nicos Shacolas has died at the age of 99. Born on December 1, 1927, in Karavas, he rose from a modest rural background to build one of the country's largest business empires. Shacolas was a founding figure of the Hermes Airports consortium, which took over the management and development of Larnaca and Paphos airports in 2006. He served as the first chairman of the board at Hermes Airports from 2006 until July 2011, later becoming the company's life honorary president. Numerous organizations, including the Nicosia Chamber of Commerce and Industry (EVEL), the Employers and Industrialists Federation (OEB), and PwC Cyprus, have issued statements expressing their condolences. He was widely recognized for his significant contributions to the Cypriot economy and business sector over a career spanning more than 70 years. Throughout his life, he remained active in strategic business decisions and emphasized the importance of continuous education.