Cyprus Airways' 2006 full-year loss narrowed to CYP7.2 million ($16.5 million) from CYP22.6 million in 2005 as it began to benefit from its restructuring initiatives. It said in January that it expects to be profitable this year (ATWOnline, Jan. 4). It said improved yield and an increase in RPKs fueled a 10.7% rise in revenue to CYP157 million. Operating costs fell 0.8% to CYP159.8 million, which the airline credited to the layoffs that were part of its restructuring program. It did pay ...

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