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CY President briefed about CAIR crisis

04/03/2005 14:31
The latest developments in Cyprus Airways will be set before the Council of Ministers, which will meet on Wednesday to discuss the issue. The decision was taken after the meeting between the Cyprus President, Tassos Papadopoulos and the Finance and Transport Ministers, Makis Keravnos and Haris Thrasou.

In his statements, Finance Minister said that the President has been briefed about the crisis in the national carrier and evaluated the developments, after the resignation of two Board members. On the question whether the President has already taken certain decisions, Mr. Keravnos said that the issue will be set before the Council of Ministers first.

Similarly, Transport Minister, Haris Thrasou reiterated that the Ministers will not urge and will not dissuade any other Board member to submit his resignation.

StockWatch sources reveal that Mr. Papadopoulos appeared exceptionally severe, making clear that the government will no longer back the national carrier. The President urged the Ministers to contribute to the enforcement of the action plan, irrespective of the political cost and stressed the need to follow the procedures determined by the Industrial Relations Code and the labour legislation. “Our priority is the survival of the Company”, he stated.

Same sources reveal that Mr. Papadopoulos let the two Ministers decide on the resignation letter.