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Cyprus Airways Return To Profitability  
User currently offlineCYatUK From United Kingdom, joined Apr 2006, 812 posts, RR: 0
Posted (8 years 3 months 3 days 15 hours ago) and read 2520 times:

After four consequtive years of losses and having sold of their subsidiary Eurocypria Airlines in 2006, Cyprus Airways Chairman announced today that the company is showing marginal profit for 2007.

Part of the profit will be given as bonus to the staff whose salaries were frozen for the last 2-3 years but also used to continue reorganisation.

During his speach he also mentioned that CY are in negotiations to lease an extra plane for the summer period (no model mentioned - any ideas from where) and also they are looking to possibilities of joining an alliance (SkyTeam Regional Partner would be my guess)

In other news, CY/Swissport new subsidiary won one of the two ground handling licences from Hermes Airports who are the new owners of Cypriot airports. Operations will start at the old terminals on 15 May 2008 and trasfer to the new terminals in November 2008 (PFO) and November 2009 (LCA).

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