Cyprus Mail
Business Cyprus

CY chairman resigns (updated)

CY Boss Tony Antoniou

Cyprus Airways (CY) chairman Tony Antoniou has resigned over claims he had charged personal expenses on the airline and had not followed proper procedures when assigning a project, the government said on Saturday.

His resignation was accepted by President Nicos Anastasiades despite a probe finding nothing incriminating against Antoniou.

A government statement said the cabinet was informed of the probe’s findings on Friday.

“It appears that Mr. Antoniou had not acted with malice or the intention to make personal gain,” the statement said.

It had been determined, the statement added, that proper procedures when assigning a project had not been followed to the letter because the relevant article had been misinterpreted.

In June, reports claimed the CY chairman had charged personal expenses to the company’s books, including speeding fines and his car servicing tab, which had cost over €1,000, as well as the purchase of 480 bottles of wine.

The report also claimed that the chairman had personally assigned a project worth more than €86,000 without engaging the carrier’s tender department.

Antoniou denied the claims.

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