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Chinese company interested in Cyprus Airways
19:41 - 06.04.13
A Chinese company is interested in buying ailing national carrier
Cyprus Airways (CY), Cyprus Mail reported.
In a statement to investors, CY said officials from Beijing Yi Xiang
Da Investment Co Ltd held talks with finance ministry and airline
officials.
Signs for a conclusion appear to be encouraging, the airline said, but
there has not been an agreement yet.
The government said it was prepared to talk to anyone with the aim of
finding a strategic investor.
`It is well known that the government is faced with a huge problem
that concerns Cyprus Airways,' government spokesman Christos
Stylianides said. `Unfortunately we have also inherited this (problem)
and the government is prepared to consult and talk with anyone in a
bid to find a strategic investor.'
The government's aim is to be able to ensure that the company
continued to participate in the effort to serve the greater national
interest.
At the same time, Communications Minister Tasos Mitsopoulos said
yesterday that his counterpart, Commerce Minister Giorgos Lakkotrypis
met with the chairman of Middle East Airlines on Thursday to discuss
CY. MEA had shown interest in CY in the past.
`I think this interest has been renewed in a way and MEA chairman
voiced his readiness to visit Cyprus to explore the potential,'
Mitsopoulos said.
The airline is currently going through what is perhaps the most
critical period since its creation, unable to keep up with competition
from cheaper carriers and rising fuel costs.
It has been kept afloat with state assistance, which however, EU
competition regulators are currently investigating.
Armenian News - Tert.am
19:41 - 06.04.13
A Chinese company is interested in buying ailing national carrier
Cyprus Airways (CY), Cyprus Mail reported.
In a statement to investors, CY said officials from Beijing Yi Xiang
Da Investment Co Ltd held talks with finance ministry and airline
officials.
Signs for a conclusion appear to be encouraging, the airline said, but
there has not been an agreement yet.
The government said it was prepared to talk to anyone with the aim of
finding a strategic investor.
`It is well known that the government is faced with a huge problem
that concerns Cyprus Airways,' government spokesman Christos
Stylianides said. `Unfortunately we have also inherited this (problem)
and the government is prepared to consult and talk with anyone in a
bid to find a strategic investor.'
The government's aim is to be able to ensure that the company
continued to participate in the effort to serve the greater national
interest.
At the same time, Communications Minister Tasos Mitsopoulos said
yesterday that his counterpart, Commerce Minister Giorgos Lakkotrypis
met with the chairman of Middle East Airlines on Thursday to discuss
CY. MEA had shown interest in CY in the past.
`I think this interest has been renewed in a way and MEA chairman
voiced his readiness to visit Cyprus to explore the potential,'
Mitsopoulos said.
The airline is currently going through what is perhaps the most
critical period since its creation, unable to keep up with competition
from cheaper carriers and rising fuel costs.
It has been kept afloat with state assistance, which however, EU
competition regulators are currently investigating.
Armenian News - Tert.am