The Cypriot government has finally assigned the Finance Ministry to proceed with acquiring advisors in order to set up the new national airline that will replace Cyprus Airways, while using its logo and name. The Cypriot government on Friday, January 9, announced Cyprus Airways’ suspension of operations, after EU said it must repay over 100 million euros in illegal state aid it received in 2012.
After the government’s meeting on the issue, deputy spokesperson Victoras Papadopoulos said that the aim is to enhance air links between Cyprus and overseas destinations, as well as create new jobs for its former employees. “After this decision, we begin the process to find a new investor based in Cyprus so that a new company can operate and adopt the logo and the name of Cyprus Airways,” he explained.
Answering journalists’ questions, Papadopoulos underlined that the European Commission decision has caused no problems in air travel or reservations, as happened in other countries after similar decisions.
On his behalf, Cypriot Finance Minister Harris Georgiades said that Cyprus Airways will not stop its operations following the European Commission‘s decision, as the company ceased to exist only as an active economic entity.
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