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CAIR to compensate redundant staff from sale of Airbus

23/03/2005 12:19
The £5 million that Cyprus Airways will receive from the sale of Airbus 320 to a US Company will be granted to the former employees, who have been dismissed by the national carrier due to redundancy.

Speaking to Parliament, CAIR Chairman, Lazaros Savvides said that it is the Company’s contractual duty to compensate the redundant staff.

On the question about the future of Hellas Jet, Mr. Savvides said that the Board of Directors is examining alternative scenarios but avoided to proceed to further details.

Mr. Savvides also referred to certain reports which claim that his appointment as a Chairman was illegal. “As far as I know, my appointment is legal even if I am the General Manager of the Ministry of Interior”, he stated.