A Committee of Experts with headquarters in London ratified the decision of the Republic of Cyprus to reject a request by Hermes Airports Ltd to postpone its contractual obligations regarding the 2nd Phase of development of the Airports of Larnaca and Paphos. Hermes Airports had appealed against the Republic within the framework of the Procedure of Quick Solution of Differences.
The Committee decided that Hermes Airports did not have the right to postpone its contractual obligations.
In July 2017, Hermes Airports requested indefinite postponement of its obligation to proceed with the construction of the 2nd phase of the Airports but the Republic through the Ministry of Transport rejected the request.
