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Trouble with CY was that it had poor management appointed by the government, and was run by the unions, Over paid Pilots and Cabin crew. night stops instead of return journey with the subsequent attractive expenses.
CY was in trouble before the EU but government loans, they hoped the EU would ignore. They Juggled with Eurocypria and that went down.;
Cyprus airways could not fly a kite.
Not debuted however my response was more about others claiming EU rules never enforced - They evidently are and both Malev and Cyprus were victims of rule breaking !