Pilots elected their new leadership on Monday, which is expected to decide whether it will adopt the action plan for the survival of Cyprus Airways. The new Board of Directors of PASYPI is composed of Messrs. Tasos Christofides, Kyriakos Antoniou, Theodosis Hadjiantonas, Vasos Vasileiou, Chrysanthos Hadjichrysanthou, Anastasios Evripidou and Adamos Sourkounis.

According to StockWatch sources, if the newly-elected members of the Board of Directors are in Cyprus, they will hold a special meeting, which will be exceptionally interesting considering that PASYPI has both “yes” and “no” supporters of the action plan.

“The Board of Directors of Cyprus Airways is not expected to renegotiate the action plan. The Company is willing, however, to give further clarifications on the Labour Ministry’s proposal to the new leadership. If the new PASYPI Board of Directors deems necessary to renegotiate the action plan, the Management of the national carrier will say “no””, a source told StockWatch.