Cyprus Airways posted a post-tax loss of €18.9 million ($25 million) for the 2011 full year, compared to a €232,000 profit in 2010. The carrier said the economic downturn, Greek debt crisis, competition and dip in passenger traffic all contributed to the loss. Total revenue for the year was €212.4 million compared to the previous year’s €236.3 million. The carrier, which says it needs a capital injection of about €45 million, has been seeking a ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.