Government's aim to make Cyprus Airways viable

The government`s aim is to make Cyprus Airways a viable company, which can survive the competition in the air transport sector, Minister of Communications and Works Tasos Mitsopoulos has said.

He noted that measures to restructure the company were already in the pipeline, such as the reduction of the fleet and staff.

Mitsopoulos said the government has decided, through changes, to support the company, adding that "what we all have to do – employees, management and the state – is to make the changes that will address the longstanding problems, which did not allow the company to become competitive."

Asked about the companies that have shown an interest in buying Cyprus Airways, Mitsopoulos said there were negotiations with prospective investors, adding that there was also an effort underway to find a strategic investor.

The Minister referred to talks with Middle East Airlines (MEA) and other companies, including a group of investors from China, and noted that some of the interested parties had contacted Cyprus Airways directly.
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