Cyprus Airways to Close Without an Investor, Ta Nea Reports

Cyprus Airways Ltd. will close unless it finds a group to invest 45 million euros ($49.3 million) in the company’s planned share capital increase, Ta Nea said, citing George Mavrocostas, the airline’s chairman and chief executive officer.

The air carrier is in discussions with possible investors and has already talked with Aeroflot, Transaero Airlines, Middle East Airlines and with Qatar, the Athens-based newspaper cited Mavrocostas as saying in an interview.