23/12/2005 11:55
The government decided on Friday to grant an unofficial extension to the trade unions in order to take their final decision on whether they accept or not the plan for the survival of Cyprus Airways.
According to StockWatch sources, the extraordinary general meetings of almost all trade unions will be completed by Wednesday, while the final answer will be given on Thursday.
Meanwhile, the Cyprus Airways Management evaluated the written clarifications requested by the trade unions and is expected to give its answers in writing today. The Company’s reply to the clarifications is the “key” for the achievement of an agreement.
So far, the prospects for the trade unions’ reaction are positive.
On the other hand, the government – the major shareholder of CAIR – expressed its optimism that the trade unions will accept the new plan.
Finance Minister, Michalis Sarris stated on Thursday that the final proposal is improved, while Central Bank Governor, Christodoulos Christodoulou expressed his optimism that both sides will behave responsibly, having as a main aim to save the national carrier.
Similarly, DISY Chairman, Nicos Anastasiades emphasized that Cyprus Airways must survive, since a possible collapse will affect negatively the course of the island’s economy.
Parliament approves additional compensations
Meanwhile, the House of Representatives approved on Thursday a supplementary budget on the additional compensations of £10 million to the 500 redundant employees, that is, £20 thousand each. The final compensation will depend on the years of service and the post of each employee.
According to StockWatch sources, the extraordinary general meetings of almost all trade unions will be completed by Wednesday, while the final answer will be given on Thursday.
Meanwhile, the Cyprus Airways Management evaluated the written clarifications requested by the trade unions and is expected to give its answers in writing today. The Company’s reply to the clarifications is the “key” for the achievement of an agreement.
So far, the prospects for the trade unions’ reaction are positive.
On the other hand, the government – the major shareholder of CAIR – expressed its optimism that the trade unions will accept the new plan.
Finance Minister, Michalis Sarris stated on Thursday that the final proposal is improved, while Central Bank Governor, Christodoulos Christodoulou expressed his optimism that both sides will behave responsibly, having as a main aim to save the national carrier.
Similarly, DISY Chairman, Nicos Anastasiades emphasized that Cyprus Airways must survive, since a possible collapse will affect negatively the course of the island’s economy.
Parliament approves additional compensations
Meanwhile, the House of Representatives approved on Thursday a supplementary budget on the additional compensations of £10 million to the 500 redundant employees, that is, £20 thousand each. The final compensation will depend on the years of service and the post of each employee.
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