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Sale of CAIR logo and trademark

14/01/2016 14:19
The Republic of Cyprus announced the launch of the formal procedure for the sale of the logo and trademark of Cyprus Airways, through domestic and international publications on 5 January, a year after the closure of the national carrier.

With the announcement, the Republic seeks the official submission of expression of interest for use / utilization of the trademark and brand name of CAIR, for flights to and from Cyprus, as stated.

Based on the terms of the invitation, interested parties should submit expressions of interest until February 9. The second phase will allow time for any clarifications and the third phase will involve the submission of a binding bid.

Note that on June 15, 2015, the Privatization Unit had begun the process for identifying interest for the sale of the logo and brand name of CAIR, reserving the right for an official tender.

The notice for the formal tender was decided as it was found that there would be interest from investors in case of open tenders, as mentioned in the quarterly report of the privatizations unit.

The announcement also mentions that those who had expressed interest in last year’s informal process have been informed that if they meet required criteria, they will not need to submit a new expression of interest.