Cyprair Says Full-Year Loss Widens as Passenger Numbers Decline

Cyprus Airways Public Ltd. (CAIR) posted a pretax loss of 18.8 million euros ($25 million) for 2011 compared with a loss of 3 million euros a year earlier, as passenger numbers declined and costs rose.

Revenue fell 10 percent to 212.4 million euros, while the cost of sales increased 1.7 percent to 253.5 million euros, the state run airline said today in a statement on the website of the Cyprus Stock Exchange.

-- Editor: Tim Farrand

To contact the reporter on this story: Stelios Orphanides in Nicosia at

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