Cyprus-Forum.com

[lola-tulip]

Thank you, for helping bring the end of the Cyprus Problem one step closer.

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"Debt-hit Cyprus carrier comes to end of the line

Wednesday, October 20, 2010

ISTANBUL - With debt worth $140 million, Cyprus Turkish Airlines has had to declare bankruptcy.

The board of the debt-laden Cyprus Turkish Airlines, or KTHY, decided to declare bankruptcy late Tuesday after determining all options to sell the airline to a private company had been exhausted.


“With its known debt of $140 million, KTHY has come to the point of bankruptcy and it will be liquidated,” Anatolia news agency quoted Çavuşoğlu as saying. “There are many reasons behind this bankruptcy: management issues, the embargo due to the non-recognition of the Turkish Republic of Northern Cyprus and not making the necessary decisions in time.”

The bankruptcy came despite “all self-sacrifices of employees, including the relinquishment of an important portion of salaries” and “state aid of nearly 40 million Turkish Liras,” Çavuşoğlu said. He said the board expects the northern Cyprus government to protect “the bread and butter” of employees.

Speaking on Wednesday, Çavuşoğlu said it is “upsetting” that a company with a history of 36 years is dying this way."


http://www.hurriyetdailynews.com/n.php? ... 2010-10-20


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May all their damnable businesses and illegal constructs go the same way.

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~~~ our Salvation came down from the heavens ~~~

[paliometoxo]

this is great news. bankrupt airlines = less people going to the north cyprus and more going and leaving from the ROC larnaka/pafos airport... a step in the right direction. slowly the fake rape state collapses around turkey an nothing they can do to stop it

[Viewpoint]

Wrong again it only means that Turkish airlines Atlas airlines and Pegasus airlines enjoy more of the cake.

[Get Real!]

...“There are many reasons behind this bankruptcy: management issues, the embargo due to the non-recognition of the Turkish Republic of Northern Cyprus and not making the necessary decisions in time.”

What about good old fashioned incompetence? No mention of that?

[paliometoxo]

Wrong again it only means that Turkish airlines Atlas airlines and Pegasus airlines enjoy more of the cake.

another thing they have to rely on turkey for just how much can turkey support the rape state that you turks have boxed yourselves into when all the tc companies will be going bankrupt

[bill cobbett]

As ever all the blame conveniently put on alleged isolations and the other side... whereas, as said above, it was bleeding incompetence and over-staffing with over-paid, underworked and over-pensioned staff, and relying on Mumma Turkey for hand-outs to keep the miserable idea of a business airline going.

Another example of the Illegal Regime failing to keep its promises and the foolish and easily mis-led being led up the garden path.

(... gosh, sounds a bit like CY Air, leaving aside the Illegal Regime andTurkey bits)

[Hermes]

Wrong again it only means that Turkish airlines Atlas airlines and Pegasus airlines enjoy more of the cake.

More of the cake? What cake? There is no cake. Only the gentle sound of money being pissed down the drain.

[shahmaran]

Wrong again it only means that Turkish airlines Atlas airlines and Pegasus airlines enjoy more of the cake.

Exactly, again the GC policy has costed the Cypriots and made Turks richer.

I am telling you, it is not about fighting Turkey, they are fighting us, they just want us out of here just as much as they did 50 years ago.

Plus who the hell flies with CTA when there is Pegasus or Atlas which is much cheaper.

I don't remember the last time I took CTA to go anywhere, which is probably the real reason why it went out of business, cheaper options.

[Oracle]

Wrong again it only means that Turkish airlines Atlas airlines and Pegasus airlines enjoy more of the cake.

Exactly, again the GC policy has costed the Cypriots and made Turks richer.

I am telling you, it is not about fighting Turkey, they are fighting us, they just want us out of here just as much as they did 50 years ago.

Plus who the hell flies with CTA when there is Pegasus or Atlas which is much cheaper.

I don't remember the last time I took CTA to go anywhere, which is probably the real reason why it went out of business, cheaper options.

Have you ever wondered why you have to use Greek names to stay in business?
Clue: anything with "Turkish" in it is instantly rejected.

Now, how to let the world know "Pegasus" and "Atlas" have been hijacked by Turks ...

Calling Facebook Fighter, bill cobbett .....

[Viewpoint]

Turkish Airlines have increased their number of flights to and from Ercan to 26 a week.