Cyprus Airways halts services on EU ruling
(MENAFN) Cyprus announced halting flights by its national carrier, spelling its end, after EU regulators ordered Nicosia to recover illegal state aid granted to the holiday island's ailing airline, Gulf News reported.
Cyprus Airways ticket-holders will be offered alternative arrangements, the government of the small recession-hit EU member state said. The 68-year-old carrier made its last flight Friday night.
"We are saddened by the turn of events, and the government will seek to maintain air links between the island and abroad," Cyprus' Communications Minister said.
He warned the airline could not survive if the EU decided Cyprus broke the rules by giving it a USD37 million capital increase. He said the airline had received USD153.89 million since 2007 without results.
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