9-Sep-2010 11:23 AM

Cyprus Airways and Eurocypria merger likely to go forward

Cyprus' Finance Ministry confirmed the Cypriot Government plans to go ahead with a merger of Cyprus Airways and Eurocypria (Financial Mirror, 08-Sep-2010). Bank of Cyprus Group Senior General Manager, Vassos Shiarli, is expected to be appointed as the new joint Chairman within a few days. A full review of both carriers’ operations are expected, with a restructuring plan expected to be submitted to the European Commission for approval.