NICOSIA - Eurocypria will close unless the House approves an increase in its share capital by €35m, the airline’s chairman warned Monday.
Eleftherios Ioannou also said he would resign if the House did not respond.
He said that total losses could exceed €90m and that aircraft would be grounded and passengers stranded.
The chairman of the House Finance Committee Nicolas Papadopoulos said that the House would not give in to blackmail and criticised the government and Eurocypria for coming at the last minute to seek a capital increase.