5-Nov-2010 8:12 AM

Eurocypria to cease operations

Cyprus Government spokesman Stefanos Stefanou stated Eurocypria will cease operations to allow Cyprus Airways, majority owned by the state, to remain competitive after a government-commissioned study showed Cyprus cannot sustain two airlines in the highly competitive market (AP, 04-Nov-2010). Mr Stefanou stated that there are plans for "as many as possible" of Eurocypria's 265 full-time employees to be employed by Cyprus Airways. Cyprus Airways will assume Eurocypria's flight schedule on 13-Nov-2010 with the plans requiring EU approval.