More woe for Cyprus Airways today as a potential investment by Canadian conglomerate Triple 5 into the ailing carrier’s capital share appears to have fallen through.

Two separate consultancy firms have reportedly instructed the Canadian giant that a purchase of the island’s state carrier would not be a beneficial investment.

 The consultancy firms suggested that even if further cost-cutting measures were imposed, the carrier would still remain unprofitable and not the least bit competitive.

Cyprus Airways officials declined to comment on the development.

CYBC