Cyprus Plans Cyprus Airways Routes Protection

The Finance Minister explained, "We're trying to exhaust all possibilities for the survival of the company. Government plans include also a worst case scenario," according to Parikiaki.

Georgiades offered his remarks at a Parliamentary Committees on Financial Affairs and Public Expenditure Control joint meeting, that assessed the continuous process attempting to a secure a primary investor for the plauged national air carrier.

The Cypriot FM added, "We are looking for a real investor and not a charlatan; we are prepared to sell the company to an investor or to the employees...The continuation of Cyprus Airways requires additional moves," referring to benefit and employee downsizing.

Cypriot Accountant-General Rea Georgiou commented to MPs that the airline's two promising investors Aegean Airlines and Ryan Air, have been asked to offer their binding proposals. Cyprus Airways Chairman Makis Constantinides has confirmed that the two corporations also wish to acquire other attributes of the air carrier, including the engineering department, in addition to its logo.