The government is prepared for all eventualities in view of the European Commission`s decision on a state-financed rescue plan for Cyprus Airways, Minister of Communications and Works Marios Demetriades said on Thursday.
“Let us wait and hear the decision,” Demetriades said, as press reports suggest that the decision by the Commission`s Directorate-General on Competition will be released tomorrow.
The restructuring measures for the loss-making company amount to €103 million.
“If the decision regards the considerable aid granted illegal, the company will be forced to return the money, and as a result there will be no choice but the suspension of the company`s operations,” Demetriades said speaking to the press.
Asked if the government has sent a revised restructuring plan to the Commission, Demetriades said “we are trying even at the last minute to obtain a positive response so that the company will not suspend its operations.”
But he noted that the government is ready for all possibilities.
“There will be no gap in the country`s flight connectivity. We have already drafted a plan in case the European Commission`s decision is negative and the company will have to suspend its operations, to cover the gap that will emerge,” he said without giving any details.
Replying to a question, Demetriades said the government will compensate the passengers that have booked tickets with Cyprus Airways as well as the carrier`s employees.
He also said that both Ryanair and Aegean, that have participated in a tender to acquire Cyprus Airways as a whole as well as CyAir assets, have applied for local air carrier license.
ENDS, CYPRUS NEWS AGENCY