Fresh calls for Eurocypria merger as CY flounders

THERE were fresh calls yesterday for Cyprus’ two airlines to merge, as the largest - Cyprus Airways (CY) - posted €25.5 million in losses for the first half of the year.

This was a stark contrast to the €3.5 million in losses recorded by the company during the same period last year.

The two big parties, ruling AKEL and opposition DISY appear to agree that majority state-owned CY and 100 per cent state-owned Eurocypria should merge, but disagree on the manner of the deal if it were to go ahead.

DISY deputy chairman Averof Neophytou said merging two financially bankrupt organisations was not a solution as this would just cause new problems.

02/09/2010