CY, Qatar Airways finalising $20m sale of Heathrow slot (updated) | Cyprus Mail:
"Cyprus Airways (CY) said on Wednesday it was in the final stage of a deal with Qatar Airways for the sale of the national carrier’s time slot at London’s Heathrow airport for $20 million (€14.7 million).
The two sides’ legal advisers were in the process of drafting the agreement and further statements will be made after it was finalised, the airline said.
Workers had voiced opposition to the sale in the past.
Pilot union PASYPI said it had written to four ministers – finance, communications, commerce, and labour — asking for financial support to avoid selling the time slot.
In a statement issued on Wednesday, PASYPI said the board wanted to sell one of two time slots at Heathrow because of significant deficits in the “guaranteed” provident fund caused by bad management."
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