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CAIR: Investigations start on Jul 28

12/07/2004 14:09
The operations of the Investigation Committee under Giorgos Stavrinakis on the management of Cyprus Airways by the former Board of Directors will start on July 28. Transport Minister, Haris Thrasou stated on Monday that Mr. Stavrinakis’ ‘mission’ is to “investigate the difficult economic situation of Cyprus Airways and its subsidiaries, the reasons that generated this situation, the possible mismanagement of the Company and its subsidiaries and the acts, decisions and omissions on behalf of the former Board of Directors”.

The findings of the Committee will determine the decisions of the Council of Ministers at a later stage, since it will “investigate issues concerning the sale and purchase of aircrafts of Cyprus Airways and its subsidiaries and the activities of the former Board members”.

Mr. Stavrinakis said that he will issue an announcement urging all those who know anything about the case to testify and admitted that it will take some time “to examine the documents on the case”. “The Committee will make the best possible to complete procedures by the end of the year”, Mr. Stavrinakis concluded.