Article 3
1. Cyprus shall ensure that Cyprus Airways Public Ltd and Eurocypria are and continue to be operated as fully competing companies. Cyprus Airways Public Ltd and Eurocypria shall be run as separate legal entities. Neither Cyprus Airways Public Ltd nor Eurocypria shall be allowed to acquire any shareholding in the other and no equivalent capital operation, such as a merger, shall be carried out between both companies. All transactions between Cyprus Airways Public Ltd and Eurocypria shall be conducted at arm's length. 2. Paragraph 1 shall apply until either: a) the loan guarantee granted by Cyprus to Cyprus Airways Public Ltd is brought to an end; or b) Cyprus no longer has direct or indirect majority participation and/or control in the capital of both companies.