Lordo wrote:GreekIslandGirl wrote:Lordo wrote:GreekIslandGirl wrote:Lordo wrote:so who picked up the bill of the last one when it went bankrupt.
It didn't go bankrupt. It was still a viable operation and they sold the rights to use the logo for 10 years.
a viable operation does not stop doing business. lets face it you could not see reality even if it punched you in the face.
Businesses sell their brand name all the time.
Under the licencing agreement, signed at the finance ministry on Friday, the state will remain the owner of the Cyprus Airways brand name, logo and trademark, the privatisation unit said. The agreement may be renewed for an additional five years “on the basis of negotiations of financial and commercial terms, between the Republic and the successful bidder.”
businessmail
of course pibol sell their brand name it is called a franchise and they sell it to as many pibol as possible and also keep their own operation going.
cyprus airways did nothing of the kind. they sold the logo and the routes and their landing rights at larnaca airport which i might add is built on stolen tc land. fancy that gc building an airport on stolen land. and then shut up shop. they also were unable to pay back the government the money they were given which eu declared was against eu rules.
you really are too stupid to understand anything.
When a company goes into administration, the administrators can sell the name if they wish for a fair price.
Usually, most sensible people won't buy a name because it's money for nothing unless of course it was a good brand name like the Cyprus Airways name for instance with the Moufflon Logo.
The Cyprus Government bought the name from the administrators. You don't have to pay all the debt. Administrators try to sell the business, plant and equipment in order to recoup monies owing to Banks, Airports, Oil Companies etc. The funds then get distributed to creditors.
Cyprus Airways as an entity folded and this company has nothing to do with the old Cyprus Airways. The current Cyprus Airways is a Russian company owned by S7 Airlines from Siberia. They just want to use the CA brand name.