CAIR: Clarifications on report
9/6/2003 11:20
With reference to a press report, Cyprus Airways would like to clarify the following:
The year 2003 was exceptionally difficult for the international air transport industry due to the war in Iraq, SARS and the international economic recession.
Cyprus Airways was not an exception, as the Cyprus tourist arrivals were significantly affected.
However, any forecast on the financial statements of the Group for 2003 at the current stage would be risky.
The Company keeps abreast of the developments and within the framework of the emergency action plan takes all the proper measures to cope with the emerging problems.
As regards to the loaning and the other financial obligations, these are mentioned in the Annual Report of the Cyprus Airways for 2002, which is already in circulation.
The year 2003 was exceptionally difficult for the international air transport industry due to the war in Iraq, SARS and the international economic recession.
Cyprus Airways was not an exception, as the Cyprus tourist arrivals were significantly affected.
However, any forecast on the financial statements of the Group for 2003 at the current stage would be risky.
The Company keeps abreast of the developments and within the framework of the emergency action plan takes all the proper measures to cope with the emerging problems.
As regards to the loaning and the other financial obligations, these are mentioned in the Annual Report of the Cyprus Airways for 2002, which is already in circulation.
