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Cyprus

Cyprus Airways creditors to meet on Friday

Cyprus Airways’ creditors will convene a general assembly meeting on Friday in order to approve an extraordinary resolution of voluntary liquidation.
The President of SYNYKA SEK Trade Union Vangelis Mappourides told CNA that Cyprus Airways staff would attend the meeting but they were not planning to protest.

“We will assess the situation today and tomorrow and we will see how to proceed,” he said, adding that they were expecting a response from the government as regards their future.

The state-owned airline entered voluntary liquidation on January 9, after the EU Commission ruled that it should return €103 million in state aid it had received since 2012, breaching EU rules.

A press release issued from the airline on Tuesday said the meeting would consider an extraordinary resolution for the voluntary winding up of the company which may be passed by the shareholders, the nomination of a liquidator for the purpose of the winding up of the affairs and the distribution of the assets of the company. (CNA)

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