A gas turbine engine has a nose cone, a fan for delivering air into a bypass duct as bypass flow, and into a core engine to be delivered to a compressor. The nose cone includes a vent to receive air and deliver the air across a heat exchanger, which receives a fluid to be cooled. The air from the vents is delivered to an outlet downstream of the heat exchanger, such that a majority of the air being delivered to the outlet becomes part of the bypass flow.