Posts by tag: Angela Merkel

Archives January 13, 2011 posted by

State agrees to inject €20m into CY

THE government has agreed to inject around €20 million into ailing national carrier Cyprus Airways (CY) in the form of compensation for damages incurred due to the Turkish ban on the airline using its airspace.

The airline said this time last year that Turkey’s ban, which violates the Ankara protocol with the EU by shutting out Greek Cypriot air and sea traffic, was costing CY some €3 million a year.

The prohibition of CY flights over Turkish airspace means longer more expensive flights and a reduction in competitiveness, especially on flights to Russia, a huge market for Cyprus.

CY has been calling for compensation from the government the past 12 months and the state has now agreed, on condition the company restructures itself in order to become profitable.

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Archives January 12, 2011 posted by

British woman facing charges of attempted murder and kidnap

A BRITISH woman is due in court today facing kidnap charges after she took her son to the UK. She has also been accused of hiring hitmen to murder her estranged Cypriot husband.

Sarah Antoniou, 38, has been held in Nicosia prison since November. She will appear in Paphos court this morning, although her mother, Patricia Norton and UKIP MEP Stuart Agnew, currently on the island, said the case will probably be postponed.

“I have spent a few hours with Sarah at the prison and she is a broken woman. I am on my way to deliver a letter to the President of the Republic of Cyprus to highlight the case. The allegations of attempted murder are very serious and she is being held on the most flimsy of evidence,” Agnew said yesterday.

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Archives January 12, 2011 posted by

Our View: Slapdash state aid is of no help

THE LABOUR and finance ministers were unable, after a two-hour meeting yesterday, to decide the offset measures the government would take in order to help low-income families cope with the five per cent VAT imposed on food prices. They would be meeting again next week in the hope of finalising the measures, because the government wanted the introduction of the measures as soon as possible.

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Archives January 11, 2011 posted by

‘People can’t handle any more taxes’

THE 5.0 per cent hike in VAT on food and medicines, which came into force yesterday was met with a volley of pot shots being fired at the government from all angles.

The hike applies to foodstuffs, medicines and vaccines, and to beverages other than alcoholic drinks (beer, wine) and soft drinks that are already sold with a VAT of 15 per cent.

It is set to affect the price of basic commodities such as bread, milk, meat and vegetables.

The latest levies – estimated to bring state coffers some €60 million a year – come hot on the heels of a tax hike on tobacco products last month, while water price hikes are imminent.

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Archives January 11, 2011 posted by

‘Consumers will start buying only what’s necessary’

THE CYPRUS Green took to the streets of Nicosia and Limassol yesterday to protest the introduction of a five per cent VAT on food and prescriptions by offering cheaper bread.

To highlight to increased cost, several of the party members set up stalls selling bread at the pre-VAT hike prices while calling for a one-day boycott of major supermarkets.

Green Party political officer Kyriacos Kyriacou said: “All of the bread was gone in half an hour – we sold 200 loaves in Nicosia, and so as far as I am concerned it went very well.”

Asked about the success of the supermarket food boycott, Kyriacou said that several people participated, but he considered number of people who heard the message to be more important.

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Archives January 7, 2011 posted by

Our View: CY cannot be expected to fly profitless routes

CYPRUS Airways (CY) has announced radical changes to its flight schedule to ditch loss-making routes, it has announced.

From a business perspective it’s a strategic move. There is no point continuing to operate certain routes that are no longer profitable especially for an airline expecting to face €30 million in losses for 2010.

The national carrier has cut routes from Larnaca to Stansted Airport, one weekly flight to Manchester and two routes to Brussels, plus the Paphos to Athens route. Prior to the latest announcement, CY had already taken a decision to cut the Paphos-Birmingham route and twice-weekly Paphos route to Heathrow.

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