More Cyprus Airways news

Member for

14 years 2 months

Posts: 128

Hi Members

As promised, a further update on Cyprus Airways

The Cyprus Government have announced plans to buy Eurocypria Airlines but
no decision has yet been taken on whether to close Cyprus Airways but the Cyprus Airways unions have been given a few days to accept or reject the plan,

The airline, ( Euro Cypria ) which employees around 150 people and has four aircraft, is said to be worth in the region of £15 million. and is a profitable operation, Pilots and crews are on less salaries than their compatriots at Cyprus Airways.
Under the restructuring plan for Cyprus Airways, Eurocypria operations would be merged with CY to save overall costs for the group, but a contingency plan to separate the smaller airline must be made because, if Cyprus Airways closes, so will Euro Cypria as its subsidiary.

No decision has been taken to close Cyprus Airways but if Cyprus Airways closed next week, the Eurocypria buy out would have to go ahead as soon as possible, the decision to buy Eurocypria had to be made to safeguard the economy because Cyprus needs to have its own airline.

Cyprus Airways can only survive if the rescue plan is implememnted and the unions are now being pressured to accept the plan. This would be the first time that the Cyprus Government has stood up to the unions at Cyprus Airways, in the past the unions have managed to get their way.

Cyprus Airways has sustained massive losses in the past two years as a result of poor management and inefficient working practices, something that will need to change very quickly if the airline is to survive.

more updates when I get them

Regards and Happy new Year

Nordjet 415

Original post
Profile picture for user SHAMROCK321

Member for

15 years 10 months

Posts: 2,495

If they close CY I wonder how quickly their A330s will be snaped up?

Member for

15 years 1 month

Posts: 1,887

Probably very quickly. Are they series -200 or -300?

Profile picture for user Spence_CWL

Member for

15 years 4 months

Posts: 454

Probably very quickly. Are they series -200 or -300?

-200 with 295 seats in two classes.

Member for

15 years 1 month

Posts: 1,887

Thanks. Could be of interest to bmi maybe?