In its latest financial report, the Cypriot flag carrier has disclosed plans for the early termination of the leases for its two Airbus A330-200s, in December 2011 and January 2012 respectively. The aircraft are currently being sub-leased to the Ministry of Defence of the United Kingdom until November 2011. At the same time the airline agreed with the leasing company, ILFC, to lease two Airbus A321-200 aircraft for a period of six years with delivery dates in April and May 2012. This capacity reduction is part of an action plan to match demand as the airline tries to maintain its viability.
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Mon, Sep 5 2011 4:06 PM
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