It seems the grim reaper has come for Cyprus Airways at last – with the plug pulled on the airline on Friday Evening.
According to the European Union Commission, the government of Cyprus had breached the rules on state aid for struggling companies.
The airline had been state aid on multiple occasions – and was ordered to pay back 65 million euros out of a 103 million euro state aid package it received in 2012-13.
As such, with repayment sought and no investors knocking at the door of Cyprus airways to rescue the airline – the plug was pulled on it on Friday night.
The airline has replaced the content of its site with a message:
Following the adverse decision of the European Commission for Competition, issued today, on the application of the Republic of Cyprus of a Restructuring Plan for Cyprus Airways (Public) Ltd submitted in October 2013, the Board of Directors of Cyprus Airways has decided to initiate the procedure for voluntary liquidation and to that effect all necessary measures will be taken.
In the context of the above decision all operations of the company will be suspended as of the close of business today.
Cyprus Airways would like to warmly thank the millions of passengers who flew with the airline over the years, for their choice and support. Special thanks are also expressed to the staff of the airline as well as its associates, whose professionalism and dedication were always at the service of the passengers.
We are extremely honoured to have made a valuable contribution, over the last 68 years, to the development of the economy of Cyprus and its tourism industry in particular. We have flown the flag of our country worldwide with pride.
The government of Cyprus announced that it has decided to offer alternative arrangements to all passengers who have Cyprus Airways tickets. The cost of all alternative arrangements will be undertaken by the Republic.
The affected passengers of Cyprus Airways, who have arranged their travel with departure days up to and until 9/2/2015, can immediately contact the travel agency Top Kinisis Travel Public at the national telephone number 77787878, or if they are calling from overseas at the telephone number +357 22869999, in order to arrange for the issuance of a new flight ticket. For the remaining passengers, with departure date from 10/2/2015 and onwards, a new announcement will be made in the coming days.
Additional information will be given for the arrangements that are made and/or other useful information for the passengers, on the website of the travel agency www.topkinisis.com.
Passengers who hold Cyprus Airways tickets, and are travelling shortly should contact To Kinish Travel Public to seek alternative travel. Those travelling from 10th February 2015 should hold on for new arrangements to be announced.
Travel arrangements have been made for 10th and 11th January – see http://www.topkinisis.com/taxidi_newsletters/taxidi_newsletters/PDFs/Top_Kinisis_Travel_Public_Ltd.pdf
- 10th January http://www.topkinisis.com/taxidi_newsletters/taxidi_newsletters/PDFs/dep_10_JAN.pdf
- 11th January http://www.topkinisis.com/taxidi_newsletters/taxidi_newsletters/PDFs/dep_11_JAN.pdf
It’s sad to see the plug pulled, but it seemed like Cyprus Airways could not compete into today’s travel environments – with high cost carreirs eating at the top, and low cost carriers nibbling at the bottom – with charter traffic chewing up the rest.
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