Ailing Cyprus Airways is in talks with Chinese investors

Cyprus Airways (Larnaca) is struggling to survive in a harsh environment. The flag carrier announced yesterday it is in discussions with the Beijing Yi Xiang Da Investment Company Limited according to this report by the Cyprus Mail. No agreement has been reached on a possible investment. The airline has been kept alive by previous loans of the Cypriot government which has come under the scrutiny of the European Commission.

Cyprus has also been the center of a banking crisis with citizens waiting in line to withdraw their limited funds.

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Copyright Photo: Tony Storck. Airbus A319-132 5B-DBO (msn 1729) prepares to land at Munich.

Cyprus Airways: AG Slide Show