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Cyprus Airways applies for AOC for subsidiary Cyprair Tours, awaits European Commission decision

25-Oct-2013 7:16 AM

Cyprus Airways stated (24-Oct-2013) it does not expect a decision from the European Commission (EC) "until early 2014", regrading the investigation into the Cypriot government's financial assistance to the carrier during 2012 and 2013. As previously reported by CAPA, the carrier is under investigation by the EC's Directorate General for Competition in regards to the government's financial support of the airline during 2012/2013 and its subsequent restructuring plan. The carrier added that as part of contingency planning surrounding its restructuring, it has applied for an air operators certificate for subsidiary Cyprair Tours. [more - original PR - Greek]