Cyprus Airways is gradually proceeding to radical changes that will reduce its operating and labour cost and will create the prospects for viability within a competitive environment.

CAIR Chairman, Constantinos Loizides revealed that the Management will proceed to the gradual abolition of its services and will reduce the Company’s staff, measures that will probably stumble to the powerful trade union of the airlines.

On his interview to StockWatch, Mr. Loizides said that the Company’s targets must be supported not only by the government, but by the trade union as well.

The Chairman also referred to the latest measures that have contributed to the Company’s economic improvement and expressed the hope that there will be a sincere and respectful communication between Cyprus Airways and the trade union.

Action Plan

Mr. Loizides said that the action plan prepared in February has been partly adopted with great success and the Company has saved millions of pounds. “But this is not enough. We need to abolish the loss-making services and make certain changes to several sectors. We must check our flights”, Mr. Loizides noted.

Changes – Staff and service cuts

Mr. Loizides said that changes in the Cyprus Airways flights will be effective as from October 1, while decisions will be taken in July. “The new product will be available to customers soon”, he concluded.