23-Apr-2012 2:47 PM

Cyprus Airways will close unless it finds EUR45m investor, held talks with a few airlines

Cyprus Airways executive chairman George Mavrocostas stated the carrier will close unless it finds a group to invest EUR45 million in its company’s planned share capital increase, as reported by Ta Nea. The air carrier is in discussions with possible investors with Mr Mavrocosta stating, "We are talking with several investors who have expressed interest. Some are serious and others not so, do not kid ourselves. He said talks have been held with airlines including Aeroflot, Transaero Airlines, Middle East Airlines and Qatar Airways.

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