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.

One Response to Cyprus Airways loses 55.8 million euros

  1. markos says:

    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

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