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Cyprus Airways: Restructuring continues

30 January 2013

Cyprus Airways chief executive Stavros Stavrou has said the company is proceeding with the implementation of a restructuring plan, despite strong objections by the airline’s pilots.

The plan was drawn up by a joint French Airlines-KLM group of advisors, who suggested selling off some company departments which cost too much to the company, including catering, which would result in 407 employees becoming redundant.

The board of directors came up with an alternative plan involving laying off only 272 staff members and further cuts in salaries. It has been accepted by all staff trade unions except PASYPI, the main pilot’s trade union.

PASYPI union has voiced strong objections to the new plan.

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