Cyprus Airways loses 55.8 million euros
National carrier Cyprus Airways more than doubled its losses last year to €55.8m, hit by falling passenger figures and freight earnings, it said.
Cyprus Airways, which is majority state-owned, posted a 17.6% drop in total revenue to €175.5m. The carrier said it expected the coming year to be challenging because of an economic downturn in its main markets.
The company said it is implementing a turnaround plan, which includes outsourcing, redundancies and pay cuts.
Reuters
They are loosing money and passenger numbers because they are to expensive compared to other carriers, I’ve often found tickets over £100.00 cheaper