CA-Aeroflot breakup, Web chal­lenges Cyta monopoly

Financial Mirror (Cyprus) - - FRONT PAGE -

Cyprus Air­ways could see its agree­ment with Aeroflot go belly-up af­ter the gov­ern­ment an­nounced plans to lib­er­alise char­ter flights from Moscow and St Peters­burg, while on the tele­com front Cyta could see its tele­phony monopoly dis­ap­pear af­ter tech gi­ants in­tro­duce web-based ser­vices, ac­cord­ing to the is­sue 174, on Au­gust 7, 1996. The Rus­sian state car­rier Aeroflot has writ­ten to Cyprus Air­ways chair­man Vas­silis Rol­o­gis say­ing that their co­op­er­a­tion, that ac­counts for 70%


of the tourism traf­fic from Rus­sia, could be in jeop­ardy. The gov­ern­ment, un­der pres­sure from hote­liers that saw fall­ing num­bers, de­cided to free all char­ter flights from Rus­sia from Novem­ber to Oc­to­ber 1997 in an ef­fort to boost tourist ar­rivals, but not yet sure about the qual­ity of the ar­rivals. Aeroflot Cyprus Gen­eral Man­ager Niko­lai Pech­nikov said: “Char­ter-par­ties are not a panacea from trou­bles.”

Tech gi­ants In­tel and Mi­crosoft are fast in­tro­duc­ing web-based ser­vices, such as Internet fax and email ser­vices that are ex­pected to slash costs for in­di­vid­u­als and com­pa­nies

Cyta monopoly:

that run high tele­phone bills, as is the case of Cyta cus­tomers. Email is ex­pected to dras­ti­cally re­duce fax costs, while In­tel is ex­pected to launch long-dis­tance calls over the Internet on PCs run­ning Win­dows 95.

Com­mu­ni­ca­tions Minister Adamos Adamides in­ter­vened to set­tle a dis­pute be­tween Cyprus Air­ways man­age­ment and pi­lots’ union PASYPI over Cap­tain Neo­phy­tos Ge­orghiou’s de­ci­sion to con­tinue with a flight from Brus­sels to Lar­naca, when a tech­ni­cal prob­lem arose shortly af­ter take-off.

In­ter­amer­i­can In­sur­ance re­ported a dou­bling of prof­its by more than 114% to CYP 1.24 mln, due mainly to its Life busi­ness, with the Gen­eral busi­ness con­tin­ued to be loss mak­ing.






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