Monday, October 17, 2005

Aviation: Cyprus Airways rescue package considered by unions

Unions representing staff employed by loss making Cyprus Airways, are considering a rescue package which would cut one in five jobs and give the government EU permission to lend the airline money for a rescue package.

If agreement is not reached with the unions by November 2, the plan will be submitted to the EU and talks with the unions will continue.

The state owned Cyprus Airways, has 1800 staff and has failed to make a profit on any of its routes in the past year.

The unions claim they haven't been consulted about the package, I say quit while you're ahead "comrades".