Ajet may sue government for damages

Ajet has attempted to reassure the general public that its intentions have always been hounourable in order to protect the passengers, staff, business partners and creditors of the Company.
“We have been in negotiations, for the last few months, for the aircraft currently leased by Ajet to be handed back to the Leasing companies and re-deployed to other airlines at a substantial income of approximately $1.5m per year for the next three years.”
In addition, at the same time Libra Holidays Group were also in advanced negotiations with XL Airways Group to place two aircraft in Cyprus on behalf of Libra – one from December 2006 and two from April 2007 on a year round operation. As part of this Agreement it was hoped that the majority of Ajet’s crews would be employed by XL for this project. If this Agreement were to be finalised it would generate a further substantial income for Ajet and secure as many of the Ajet staff as possible. The current actions of the Government are jeopardising and endangering the potential employment of up to 120 Ajet staff by the Summer of 2007 and blocking our efforts to ensure our passengers and creditors interests are protected, the company said.
If the Government is successful in its’ efforts against Ajet the repurcussions will have a damaging effect for the continuing tourism industry in Cyprus, not to mention Ajet’s staff and passengers.
We would like to emphasise again that Ajet has simply stopped its flying programme and has not ceased trading, nor is it intending to liquidate the company.
Ajet is reserving its legal rights against the Government in relation to the Company’s treatment to date and is in discussions with it’s International Lawyers in order to raise an official complaint with the European Union as regards its anti-competitive practices against Ajet. It is common knowledge that neither Cyprus Airways nor Eurocypria have paid all amounts due to the Government but no action has been taken against them to date. In addition, Ajet is also considering a substantial claim against the Government for loss of business following this unprecedented move by the Government.