Cyprus Mail
Business

Cyprus Airways chairman Makis Constantinides resigns

By Stelios Orphanides

Makis Constantinides, who was appointed chairman of Cyprus Airways in August, said he submitted his resignation to finance minister Harris Georgiades citing frustration over the lack of progress in the restructuring of the loss making airline.

Constantinides who was talking to state radio CyBC, said he prepared a restructuring plan to help the company, which is expected to post 16 million euros in losses this year.

He added that he was unable to have the new plan discussed at a board meeting last week, as less than five of its eight members required for a quorum turned up.

The report prepared by Constantinides will be discussed during a company board meeting chaired by vice-chairman Marinos Kallis.



Related posts

Coronavirus: House to rubberstamp state’s restrictions decree

Elias Hazou

Coronavirus: ‘never in my worst nightmares did I imagine restricting civil liberties’ Ioannou says

Elias Hazou

Coronavirus: Greek company donates chloroquine to Cyprus

Elias Hazou

Oslo-based company applies to bring LNG to Cyprus from 2021

Elias Hazou

Coronavirus: ‘painful but necessary’ to take away civil liberties, justice minister says

Evie Andreou

Coronavirus: fatality rate at 3 per cent, hotspots identified (Updated)

George Psyllides

28 comments

Comments are closed.