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Europe Daily Bulletin No. 9158

24 March 2006
Contents Publication in full By article 32 / 40
GENERAL NEWS / (eu) eu/state aid/transport
Commission awaiting clarification from: Nicosia on Cyprus Airways restructuring plan

Brussels, 23/03/2006 (Agence Europe) - On Wednesday, the European Commission decided to open a formal investigation procedure into the restructuring plan proposed in November 2005 by the Republic of Cyprus to restore the viability of the ailing State-owned Cyprus Airways. This plan is made up of several measures: a government-backed loan of 96 million euro (55 million Cypriot pounds, the sale of Cyprus Airways' charter company Eurocypria for an expected sum of 26 million euro (15 million...

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