Cyprus Airways employees overwhelmingly approved a plan to restructure the national air carrier which invloves laying off about 500 staff members.
A statement by the two main staff trade unions said the plan was approved by 98 votes in favour, 4 against and 25 abstentions.
The plan also provides for scaled salary cuts and the reduction of the company’s fleet to six aircraft.
After the endorsement of the restructuring agreement, empolyees will have a week to voluntarily resign and receive compensation.
Meanwhile, the pilots union accused the company’s management of failing to apply one of the basic terms of the restructuring plan, the hiring of foreign consultants to ensure its implementation.
The union said in a statement that this and other ommissions by the management undermine the success of the plan
CYBC