Cyprus Mail
Business

Chairman upbeat over future as Cyprus Airways runs out of time and cash

By Marie Kambas

The chairman of Cyprus Airways Marinos Kallis, the loss making airline, which is scrutinised by European authorities over alleged unlawful state aid and risks having its license revoked by Cypriot authorities, said the company remains upbeat that it can complete a turnaround even as it runs out of both time and money.

“We need to send a message to the EU that we are credible and are determined to continue the restructuring of the company,” Kallis said during a panel discussion on the future of the airline, organized by the Royal Aeronautical Society yesterday. He added that the airline had asked for further sacrifices from staff, and from business partners to accept reductions in charges.

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