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CTA assets turned into junk

30 May 2013

Cyprus Turkish Airways went bankrupt in June 2010 but the ramifications of that event are still affecting the TRNC.

After CTA went bankrupt, its spare parts warehouse at Ercan airport was abandoned and eventually even the electricity to the warehouse was cut off when bills were unpaid.

Aircraft spare parts, once worth millions, were not sold off in a timely manner and have remained in the warehouse for 3 years. Now they are reduced to junk.

Two contract tenders have been offered for these parts in the past three years. The first one produced a bid of US$375,000 and the second one US$ 402,000. However both offers were rejected by the government.

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