Cyprus’ Finance Minister seems to think that the collapse of Cyprus Airways is imminent. Their losses are expected to total €30m for the year, which I suppose is a huge amount to an airline of it’s size! And since the Cypriot government made no effort to save the state-owned Eurocypria, who is to say that they will lend a hand when the national carrier runs into trouble?

Isn’t Eurocypria part of Cyprus Airways? They might be able to pull of a SABENA. Dump the bad assets of both airlines at Eurocypria, put the good assets of both airlines at Cyprus Airways, liquidate Eurocypria and continue with Cyprus Airways like nothing ever happened. Sure it will screw over shareholders; but that did not stop SABENA/DAT and Swissair/Crossair.