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Cyprus profits up 290% at CYP 27 mln.
Cyprus Airways had until November 3 to submit a revised restructuring plan to the EU to get permission to borrow CYP 58 mln, of which 10 mln will go to redundancies, but the pilots union PASIPY and general staff union CYNIKA rejected the plan. The plan would have seen 343 laoyoffs, 8% pay cuts for pilots and managers, and 5% pay cuts for all other staff. (Ed’s note: We all know how that
The Mouskis family, owner/operators of the Four Season in Limassol, celebrated the first anniversary of their Athens property Residence Georgio.
Former UN Assistant Secretary General Gustave Feissel repeated comments by Archbishop Makarios by urging Cypriots to “seek what is achievable, rather than what is desirable” in a solution to the Cyprus problem, adding that a solution would be impossible if the Turkish Cypriots “thinned out” in the north.
Greek dairy companies were celebrating the ECJ ruling in favour of their ‘feta’, despite appeals by Germany and Denmark, while Cypriot dairies were falling over each other in the usual blame game, not realizing the impact it would have on their exports.
Feissel on Cyprus: