2-Jul-2010 1:13 PM

Cyprus Airways issues profit warning for 1H2010

Cyprus Airways issued (01-Jul-2010) a profit warning for 1H2010, with losses expected to be “significantly” more than 1H2009. The carrier attributed the deterioration to the tough economic climate, increasing competition, lower yields, increasing price of fuel and the effects of the volcanic ash cloud, which led to the closure of a large part of Northern Europe's airspace during Apr-2010. [more]