Airlines
Cyprus Airways Suspends Operations, Plans Liquidation
State-owned carrier Cyprus Airways suspended operations after the European Commission rejected a bailout package for the ailing carrier.
A Cyprus Airways Airbus A320 takes off from Zurich. (Photo: Flickr: Creative Commons (BY-SA) by Aero Icarus)
A Cyprus Airways Airbus A320 takes off from Zurich. (Photo: Flickr: Creative Commons (BY-SA) by Aero Icarus)

State-owned flag carrier Cyprus Airways suspended operations and served notice that it will liquidate its holdings after the European Commission rejected a €102 million ($120 million) bailout package. The commission also demanded the airline repay previous public funding.