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Cyprus Airways reports higher 2004 net less after assuming Hellas Jet losses
Airline Industry Information, May 19, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Cyprus Airways has reported net losses of CYP39.4m (about USD86.2m) for 2004.
The airline also said that the net loss widened because it assumed the losses of its Greek subsidiary Hellas Jet. The Greek subsidiary will reportedly be terminated. Hellas Jet was formed in 2003 and was based in Athens, set to benefit from an expected increase in business to Greece for the 2004 Olympics, Reuters reported.
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Most Popular Articles in Business
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