GGoovv’’tt aai­immss ffoorr nneeww ccoommp­paan­nyy

Financial Mirror (Cyprus) - - FRONT PAGE -

The gov­ern­ment will try to cre­ate a new na­tional car­rier to re­place Cyprus Air­ways that shut down on Fri­day after a Euro­pean Com­pe­ti­tion Com­mis­sion or­dered Cyprus to re­cover in­com­pat­i­ble aid of about 100 mln euros, ef­fec­tively forc­ing it into bank­ruptcy.

Pres­i­dent Ni­cos Anas­tasi­ades said the state will try to find jobs for most of the 550 staff presently out of a job.

“I am deeply sorry for the un­avoid­able and un­pleas­ant de­vel­op­ments con­cern­ing Cyprus Air­ways as the re­sult of the Euro­pean Com­mis­sion decision,” Anas­tasi­ades said in a state­ment, his first since the company folded.

He said au­thor­i­ties would ex­plore the pos­si­bil­ity of cre­at­ing a new company with the pri­vate sec­tor. Any new en­tity would carry the name and logo of the now-de­funct air­line.

Ef­forts to find a pri­vate in­vestor to take over the air­line failed last year. Au­thor­i­ties con­tracted Top Kin­i­sis Travel for a month to han­dle tick­et­ing ar­range­ments for an es­ti­mated 11,000 peo­ple who pre-booked and paid for tick­ets.

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