New CY board named

THE CABINET has announced the new Cyprus Airways (CY) nine-member-board with immediate effect.

Businessman Antonis Antoniou was named as Chairman of the board despite rumours that former commerce minister Antonis Michaelides was being lined-up for the position.

The board members are certified accountant Marinos Kallis, senior manager at Hellenic Bank Andreas Papadopoulos, financial analyst Constantinos Papanastasiou, lawyer Andreas Petrou, Cyprus Airways pilot Panicos Heimonas, businessman Marios Hadjigavriel, lawyer Panicos Kourides, accountant Marios Efthimiou and businessman Demetris Yiannakis.

Labour Minister Zeta Emilianidou had earlier this month declared that one way or another, the government would implement the rescue plan for CY after the previous board members had handed in their resignations.

They had handed in their resignation en masse in protest against the decision in April to allocate around €20 million of company funds to compensate staff made redundant as part of a last-ditch effort to save the airline from closure.

The sum agreed between the government, board and airline unions last month was 50 per cent of the compensation package offered by the company in its last redundancy plan.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.