State-owned Cyprus Airways has announced plans to apply for voluntary liquidation after it was forced to suspend operations on Friday. On Jan. 9, the European Commission ordered Cyprus Airways to pay back over €65 million ($76.9 million) in illegal state aid, triggering its immediate grounding and ending 68 years of operations. “The board of directors of Cyprus Airways has decided to initiate the procedure for voluntary liquidation and to that effect all necessary measures will be ...

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