Cyprus Airways said it has completed its restructuring process (ATWOnline, Jan. 11, 2006) and is expecting to turn a profit this year. It lost CYP23.2 million ($53.1 million) in 2005 and has not announced its 2006 results. The carrier cut 500 employees from a staff of 1,800 and implemented salary cuts of up to 25% but in line with an increase in productivity. It also announced the addition of Sofia, Heraklion and Rhodes to its network. It is 67% state-owned and operates two A319s, six A320s ...

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