The company stopped routes due to geopolitical challenges in the Middle East region, but increased the average fare by 115%
Our corrective actions at the strategic, operational and financial levels have led to significant revenue increases, said company CEO Pal Sies.
As security is our highest priority, we have been forced, due to regional tension, to suspend flights to Tel Aviv as well as change the schedule to Beirut. In addition, our flights to Yerevan required adjustments to flight routes, resulting in longer travel time. These developments, combined with the existing restrictions on the use of Turkish airspace, imposed a strategy of re-evaluating the efficiency and competitiveness of our routes.
To address these challenges, the company took immediate measures, demonstrating the adaptability that such strongly changing conditions require. Looking ahead, Cyprus Airways is proactively adapting to the current business environment. CEO Paul Sies notes: “Despite the difficult regional conditions, we are encouraged by the resilience and adaptability of our operations. Our corrective actions at strategic, operational and financial levels have led to notable revenue increases. This improvement is attributed to partly to our new AI-based revenue management system and the introduction of Business Class, which enhance our service offerings”.
“The situation, although difficult, has not deterred our commitment to provide quality services. We are effectively utilizing our resources, including using one of our A320 aircraft on exclusive flights for our partner, Aegean. We are also increasing charter flights both with commercial partners and operating presidential flights. The upcoming launch of the Larnaca-Brussels route at the beginning of February is expected to have a positive impact on our winter performance,” added Mr. Sies.
In this changing environment Cyprus Airways, with appreciation for the continued support of our passengers and partners, remains committed to its goals, prioritizing safety, operational integrity and the flexibility to deal with global events.
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