Cyprus-Forum.com

[Paphitis]

I am no insider but I predicted the demise of the airline on or just after 8th.

It had been well covered in the media for years that CY-air had been suffering losses year after year and that the government kept them afloat, so it’s pretty funny to read that some of you “predicted” the obvious!

they could have done many things to save the airline, buit they did nothing.

All they did was promise jobs everywhere.

[B25]

I am no insider but I predicted the demise of the airline on or just after 8th.

It had been well covered in the media for years that CY-air had been suffering losses year after year and that the government kept them afloat, so it’s pretty funny to read that some of you “predicted” the obvious!

they could have done many things to save the airline, buit they did nothing.

All they did was promise jobs everywhere.

Sounds just like another Christofies/AKEL plan, does Mari, The Economy ring any bells????

[DT.]

I am no insider but I predicted the demise of the airline on or just after 8th. Indeed the writing was on the wall (and closure had been a matter of Public debate) ever since aid deals fell to be reviewed by the EU Competition commission and where there was the example of MALEV, on the possible outcome.

The EU findings had apparently been leaked as early as 21st and it was then known they would likely be officially announced on 9th .

Against this background It is therefore not all surprising that those on the inside made closure plans in the period from 21st to 9th, e.g. in the weeks before. Indeed bearing in mind the history, they probably already existed long since and were probably mostly only dusted off and fine tuned.

That no buyer could be found for the airline as a going concern was no surprise with the sword of Damocles hanging over it, concerning the possible obligation to repay massive amounts of probably illegal state aid, and the likely need to restructure working practices against a likely hostile reaction from the Staff and Unions, bearing in mind it would likely involve job losses and wage-cuts.

Anyway now we are offered the possibility of a new Cyprus Airways: good luck to it, If it can avoid the problems that b*gg*r*d up the former airline. I would certainly consider using it, just as I used the old CY up to nearly the end.

I predicted the demise too believing that the debt will be too much to overcome.

But the Pilots seem to think that is not the case. there case is a good one and they pointing towards some potential shady events.

There are many stories going around at the moment. CA had 10 years to pay off 65 million euros.

There is some dodgyness involving Aegean too and some high officials of the Government. Things many people don't know, or don't want to know.

there are also claims that there was a Australian and German Buyer which was suppressed.

The pilots are full of shit. They based their "shady" arguments on the fact that the Minister of Transport used to work for Piraeus Bank as a fund manager before he was appointed. Next time we should appoint an uneducated unemployed simpleton for Minister so that everyone's happy.

[CBBB]

Next time we should appoint an uneducated unemployed simpleton for Minister so that everyone's happy.

Isn't that what we did to get a President 6 years ago?

[Paphitis]

I am no insider but I predicted the demise of the airline on or just after 8th. Indeed the writing was on the wall (and closure had been a matter of Public debate) ever since aid deals fell to be reviewed by the EU Competition commission and where there was the example of MALEV, on the possible outcome.

The EU findings had apparently been leaked as early as 21st and it was then known they would likely be officially announced on 9th .

Against this background It is therefore not all surprising that those on the inside made closure plans in the period from 21st to 9th, e.g. in the weeks before. Indeed bearing in mind the history, they probably already existed long since and were probably mostly only dusted off and fine tuned.

That no buyer could be found for the airline as a going concern was no surprise with the sword of Damocles hanging over it, concerning the possible obligation to repay massive amounts of probably illegal state aid, and the likely need to restructure working practices against a likely hostile reaction from the Staff and Unions, bearing in mind it would likely involve job losses and wage-cuts.

Anyway now we are offered the possibility of a new Cyprus Airways: good luck to it, If it can avoid the problems that b*gg*r*d up the former airline. I would certainly consider using it, just as I used the old CY up to nearly the end.

I predicted the demise too believing that the debt will be too much to overcome.

But the Pilots seem to think that is not the case. there case is a good one and they pointing towards some potential shady events.

There are many stories going around at the moment. CA had 10 years to pay off 65 million euros.

There is some dodgyness involving Aegean too and some high officials of the Government. Things many people don't know, or don't want to know.

there are also claims that there was a Australian and German Buyer which was suppressed.

The pilots are full of shit. They based their "shady" arguments on the fact that the Minister of Transport used to work for Piraeus Bank as a fund manager before he was appointed. Next time we should appoint an uneducated unemployed simpleton for Minister so that everyone's happy.

That isn't even 10% of their argument. It's the easiest to defend.

It's all the other accusations they are keeping quiet about. Maybe because they don't have an answer or are trying to hide the truth.

I would like all the decision makers divulge their share holdings in Aegean for starters.

Then they can explain to us why they did not enter any submissions. They can also explain to the taxpayer, why they did not accept the 30 million euros from a German and Australian consortium.

[DT.]

I am no insider but I predicted the demise of the airline on or just after 8th. Indeed the writing was on the wall (and closure had been a matter of Public debate) ever since aid deals fell to be reviewed by the EU Competition commission and where there was the example of MALEV, on the possible outcome.

The EU findings had apparently been leaked as early as 21st and it was then known they would likely be officially announced on 9th .

Against this background It is therefore not all surprising that those on the inside made closure plans in the period from 21st to 9th, e.g. in the weeks before. Indeed bearing in mind the history, they probably already existed long since and were probably mostly only dusted off and fine tuned.

That no buyer could be found for the airline as a going concern was no surprise with the sword of Damocles hanging over it, concerning the possible obligation to repay massive amounts of probably illegal state aid, and the likely need to restructure working practices against a likely hostile reaction from the Staff and Unions, bearing in mind it would likely involve job losses and wage-cuts.

Anyway now we are offered the possibility of a new Cyprus Airways: good luck to it, If it can avoid the problems that b*gg*r*d up the former airline. I would certainly consider using it, just as I used the old CY up to nearly the end.

I predicted the demise too believing that the debt will be too much to overcome.

But the Pilots seem to think that is not the case. there case is a good one and they pointing towards some potential shady events.

There are many stories going around at the moment. CA had 10 years to pay off 65 million euros.

There is some dodgyness involving Aegean too and some high officials of the Government. Things many people don't know, or don't want to know.

there are also claims that there was a Australian and German Buyer which was suppressed.

The pilots are full of shit. They based their "shady" arguments on the fact that the Minister of Transport used to work for Piraeus Bank as a fund manager before he was appointed. Next time we should appoint an uneducated unemployed simpleton for Minister so that everyone's happy.

That isn't even 10% of their argument. It's the easiest to defend.

It's all the other accusations they are keeping quiet about. Maybe because they don't have an answer or are trying to hide the truth.

I would like all the decision makers divulge their share holdings in Aegean for starters.

Then they can explain to us why they did not enter any submissions. They can also explain to the taxpayer, why they did not accept the 30 million euros from a German and Australian consortium.

Oh god

Paphiti, you gotta trust me on this. The only people that gained from the closing of Cyprus Airways are the Cypriot people. And if and when we meet up I'll share with you the details in which this was done.

In the meantime why don't you ask the pilots why they refused when the govt offered them a management buyout? They could have taken Cyprus Airways themselves.

[Paphitis]

I don't agree DT. The RoC lost big time and the airline could have been saved.

I don't know why the Pilots didn't take over. maybe it had something to do with the reasons why an Australian and Canadian company ran away after their first consultations. they couldn't get rid of people because most were appointed by Government.

Why don't you share the information you have via PM if it is sensitive stuff? I will not reveal it if you did.

[Paphitis]

More accusations from Cypriot Politicians;

"they made the ridiculous claim that the CA Pilots had a Tameio Proionias net worth of 980,000,000. About a Billion!!!

DT, can you please confirm from your Minister of Transport Friend?

[Paphitis]

[Paphitis]

From reliable sources, Super Spor FM has uncovered that Cyprus Airways will also now have pay the Nicosia Airport Authorities for unpaid parking fees and fines for their Trident aircraft, which they left parked without prior permission in July of 1974. The airport has notified the airline that if these overdue fees are not paid immediately, that the airport owners will impound the aircraft and prevent it from carrying out any further flights.

The ex CY pilots have stepped in and offered to pay the fines directly from their €980 million provident fund!