Cyprus Airways demands compensation for Turkey ban

CYPRUS Airways (CY) is demanding compensation from the Cypriot government due to it being unable to operate to Turkey or through its airspace.

The carrier’s chief executive officer, Kikis Lazarides, said: “[Turkey] won’t let us approach their ports, their airports or airspace. This is costing us €3 million a year.

“We believe the government has an obligation to compensate us. The government, if it so wishes, can get [a resolution] through the European Union.”

Cyprus Air is majority owned by the state and lost €3.2 million (US$4.4 million) in 2009, compared to a €1.74 euro million net profit in 2008. Revenue fell 20 per cent last year and

Lazarides said that there had been a “vertical drop” in traffic meaning the company was struggling to survive, despite it trying to modernise.

He added the carrier is planning on increasing its flights to Beirut, Brussels, Dublin, Kiev, Moscow and Tel Aviv.

“The group has adequate liquidity to meet any commitments which may arise, without the need to resort to short-term banking facilities,” the airline said.

Share this story

Related Topics

Latest news

Leipzig/Halle expects another busy year for cargo after a record 2020

By Damian Brett

Leipzig/Halle Airport handled record air cargo volumes last year and it is expecting further growth in 2021. The German airport…

Read More

Share this story

Cargo demand at Schiphol dips as passenger services take a hit

By Rachelle Harry

Amsterdam Schiphol Airport saw cargo volumes decline in 2020, as passenger services worldwide — and bellyhold capacity — were impacted…

Read More

Share this story

Air France-KLM extends contract with Swissport in Saudi Arabia

By Rachelle Harry

Air France-KLM Group has extended its contract with ground handler Swissport for its operations in Saudi Arabia. As a result…

Read More

Share this story