Eurocypria are in big trouble

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
10/02/2010 13:24

http://www.cyprus-mail.com/cyprus/stavrakis-eurocypria-will-close-friday-without-cash-boost/20100209

rigsby


Joined: 21/09/2007
Posts: 912

Message Posted:
10/02/2010 13:30

eurocypria 6 aircraft 250 staff in trouble ? CTA 5 ? aircraft 600+ employees. What do you people think ?

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
10/02/2010 13:37

The sums dont add up would be a massive under statement,

Paul.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/02/2010 13:59

STATE-OWNED carrier Eurocypria could run aground by the end of the week unless parliament urgently approves a €35 million bailout, the Finance Minister warned yesterday.



I suppose they will ask the EU for a loan to bailout the airline.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
10/02/2010 14:53

Bill,

Will there be anything left in the purse after the Greek debacle,

Paul.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/02/2010 15:19

No Paul. They'll be having a whip round soon in the trnc )

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/02/2010 15:50

Hang on Bill..Can they afford to support 2 airlines??? I would have thought having to support the one you already have is enough!!!!

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
10/02/2010 21:20

More to this than meets the eye..



>>Eurocypria’s operating cost was 30 per cent below CY and thus more attractive to tour operators.<<



EC has always been better run ( financially ) than CY A, but EU regs mean that the govt can't support 'em both...

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/02/2010 22:15

Coachie. They can't afford anything at the moment. I'm sure Pegasus could help them out with a plane or two.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
10/02/2010 22:36

Bill the TRNC are going to buy Greece on ebay they may throw this poor airline in. Seriously though its sad and bad . I do not think CTA do any better xxx

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/02/2010 23:13

You are right Lilli.

rsalih


Joined: 01/11/2008
Posts: 306

Message Posted:
11/02/2010 06:34

CTA are probably even worse off, but probably being bailed out all the time. İf you have offices in London Trafalgar Square, can you even imagine how much they pay in rent and rates. Why not have the offices in maybe North London Palmers Green prehaps where there is a big turkish community, think of the money they would save.

boglefan



Joined: 07/06/2009
Posts: 511

Message Posted:
11/02/2010 11:21

Is Eurocypria not part of the Olympic group? If they go it is becoming more and more difficult to get to Cyprus from the north of England and Scotland. Both to the South and the North of the Island. I do hope it can be bailed out.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/02/2010 11:35

No Eurocypria are NOT part of that group.. wholly owned by RoC govt !

boglefan



Joined: 07/06/2009
Posts: 511

Message Posted:
11/02/2010 12:57

Thanks 6ms, have used Eurocypria on lots of occasions and have always booked online via Olympic Holiday site that is why I always took it for granted that they were part of the group.

LisaCedyNZach


Joined: 21/07/2009
Posts: 30

Message Posted:
11/02/2010 16:52

Oh no. Ive booked all my flights for this year with Euro Cypria, Fingers crossed nothing happens!!!!