Cyprus Airways (Larnaca) reported a net loss of $72.5 million as the flag carrier continues to lose money. The airline is also facing an European Union investigation into whether Cyprus improperly loaned $135.2 million to the national carrier. In addition, no other state funds can be loaned to the carrier without prior approval of the European Union.

Read the full story from Famagusta Gazette of Cyprus: CLICK HERE

Copyright Photo: Andi Hiltl. Airbus A320-232 5B-DCG (msn 4197) approaches Zurich for landing.

Cyprus Airways: