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Cyprus Airways Grounded After Order To Return $118M Aid

By Aaron Vehling (January 9, 2015, 2:35 PM EST) -- Cyprus Airways Public Ltd. on Friday ceased operations after the European Union called on the Cypriot government to recover more than €100 million ($118.4 million) in unauthorized aid it provided the troubled airline because the assistance gave the company an undue advantage over its competitors, in breach of EU state aid rules....

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