Bangkok Post

Cyprus Airways name, logo up for sale

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NICOSIA: Cyprus will put the trade name and logo of now-defunct state carrier Cyprus Airways up for sale after the airline suspended operations on Jan 9.

Cash-starved Cyprus Airways was shut down after the European Commission ordered it to repay more than €65 million ($77 million) it received in illegal state aid.

Cyprus Airways, which employed 550 people, had been losing money and market share for years, after cheaper competitor­s started muscling in on its previously lucrative routes. Several attempts to turn it around failed.

“Our attempts are focused on improving Cyprus’s air connectivi­ty, finding jobs for Cyprus Airways staff and using the trade names,” deputy government spokesman Victor Papadopoul­os told reporters on Wednesday.

Government officials said a process to find a buyer would have to be “immediate” since the commercial value of the airline’s trade name and its logo — which depicts a species of mountain sheep endemic to the island — could erode over time.

There would be an open competitio­n to appoint advisers on the sale, he said.

Authoritie­s have not speculated on who might be interested in bidding.

 ??  ?? The trade name and logo of Cyprus Airways are seen on Airbus A320 aircraft during routine servicing in a hangar at Larnaca internatio­nal airport in this Aug 5, 2014 file photo.
The trade name and logo of Cyprus Airways are seen on Airbus A320 aircraft during routine servicing in a hangar at Larnaca internatio­nal airport in this Aug 5, 2014 file photo.

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