The Cyprus Stock Exchange announced on Monday that it has suspended trading in the shares of national carrier Cyprus Airways’ because of a delay in the submission of its annual financial report for 2011.
This decision will remain in force until September 24 unless the report is submitted within this time, the announcement added.
The ailing carrier is facing turmoil especially after the government decided last week to refer a recently passed law on CA back to the House of Representatves blocked a new cash boost.
Government Spokesman Stefanos Stefanou had said that the President plans to refer the controversial bill that also calls for an open skies policy to be enforced.
The bill also stipulated that the eight members of the board appointed by the government and main shareholder step down.
And they did one day later to pave the way for the release of a much-needed cash flow of €15 million. But with the bill’s referral now the cash remains on hold.

Cyprus Weekly