Ok Guy's here's my two penny's worth,
To keep it as simple as possible. An incident has occurred here. For me as an aviator this is understandable incidents happen in aviation all the time we are always managing risk when we leave the ground to minimise incidents in aviation this is what CRM is all about.
The big issue here is the actions of the crew/crews involved. It would appear that rather than reporting this very serious incident immediately so that in the long term steps could be taken to improve company operating procedures and training to minimise the chances of this type of incident happening again a decision was made to try to cover it up.
If indeed there was a cover up and proven so. It is Eurocypria's responsibility for the sake of the paying public of Cyprus and indeed Europe as well as its own staff to take immediate steps to ensure that this type of attitude does not become company culture.
Pete77