According to an official announcement, Communications and Works Minister Mitsopoulos was asked to comment on a recent decision by the Cyprus Airways Board to sell one of its two time slots at Heathrow Airport, in London. According to the Minister, this particular move secures significant liquidity for the company, which in essence guarantees its viability. Mitsopoulos further stated that there has been very good planning for the forthcoming summer season, through deals to conduct dozens of charter flights.

On future plans concerning the national air carrier, the Minister noted that a Ministerial Committee has been set up to negotiate with potential investors the company’s privatization. There are a lot of interested investors, Mitsopoulos said, noting that “there must be six-seven, or even more”. He added that these are mostly joint ventures, investors and airline companies from the Arab Gulf, Russia and China.

Asked about the timing of the final decision, the Minister said “immediately after concluding contacts with potential strategic investors”, he added however that decisions must be taken the soonest possible. Mitsopoulos said moreover that the Ministry has adopted an 'open skies' policy and referred to agreements reached with Russia, as well as with Israel. Both agreements will, according to the Minister, increase air connectivity and tourist flow to Cyprus in the coming summer. The next big target is to increase air links with Asian markets and especially China, the Minister said.

Mitsopoulos was also asked to comment on the progress of privatizations, foreseen in the bailout agreement Nicosia has signed with international lenders (European Commission, ECB, IMF) last Spring. According to the Minister, who participated in a recent session of the Inter-ministerial Committee monitoring progress, there is not enough time to put in place the relevant legislation, according to the timeframe set by the Troika, while noting that the Cyprus House will probably also need more time to discuss the matter.

Source: Famagusta Gazette