Cyprus Airways to get €20 mln state aid for Turkey ban

Loss-making Cyprus Airways is expected to get a cash injection of 20 mln euros as compensation for losses incurred by a Turkish flight ban, the government said on Thursday.
The state-controlled carrier is expected to show losses of around 30 mln euros for 2010.
The cash injection was to be given on condition the company introduced a business plan, now under discussion, to make it viable, government spokesman Stefanos Stefanou said.
"Turkey does not permit Cypriot carriers to travel over its airspace, placing Cyprus Airways at a disadvantage against other carriers and its competitors," Stefanou said. The amount represented about six years of losses, he added.
The compensation payment requires parliamentary approval.