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Cyprus News Agency: News in English (PM), 98-11-26

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [01] Cyprus Airways - Profits
  • [02] Cypriot MPs - Rumania
  • [03] Simitis - Statements on Cyprus

  • 1755:CYPPRESS:01

    [01] Cyprus Airways - Profits

    Nicosia, Nov 26 (CNA) -- After two years of losses, Cyprus Airways, the island's national carrier, is expected to present substantial profits in 1998, a company press release says.

    According to the statement, presenting the unaudited results for the first nine months of 1998, the Cyprus Airways Group recorded pre-tax profits of 11,3 million Cyprus pounds, compared to pre-tax profits of 1,8 million in the same period last year (one Cyprus pound is trading at 2,0 US dollars).

    The Group comprises Cyprus Airways Ltd, Eurocypria Airlines Ltd, Cyprair Tours Ltd and a forth company running the Group's duty-free shops.

    Operating profits in the first nine months of 1998 reached 13,6 million pounds, compared to 7,5 million pounds in the same period of 1997.

    The total revenues of the Group excluding revenues from its duty-free shops reached 115,2 million pounds, compared to 105,4 million in the same period last year.

    Cyprus Airways revenues increased by 6,6 per cent compared to those of the first nine months of 1997, while revenues of Eurocypria, its subsidiary company specialising in charter flights, increased by 21,6 per cent.

    The total number of passengers carried by Cyprus Airways and Eurocypria in the first nine months of this year reached 1,36 million, an increase of 8,5 per cent compared to the same period last year.

    Referring to the 1998 yearly results, the press release points out that "after two consecutive years of losses, the Cyprus Airways Group is expected to show substantial profits".

    CNA GG/MCH/1998

    [02] Cypriot MPs - Rumania

    Nicosia, Nov 26 (CNA) -- A parliamentary delegation on an official visit to Bucharest will deliver a message from President Glafcos Clerides to his Romanian counterpart Emil Constantinescu.

    The four-member delegation headed by House Foreign Affairs Committee Chairman Tassos Papadopoulos also includes Committee members Dimitris Sillouris, Doros Christodoulides and Doros Theodorou.

    The MPs are also scheduled to deliver a letter from Foreign Minister Ioannis Kasoulides to his Romanian counterpart.

    Today, the delegation had a meeting today with Rumanian Deputy Chairman of the Senate Mircea Ionescu who stressed that the solution of the Cyprus problem is up to the people of the island and no military intervention by a third country could be acceptable.

    The MPs also had a joint meeting with the Senate and the Chamber of Deputies Foreign Affairs Committees during which they discussed the Cyprus question, the two countries' European Union accession course and bilateral issues.

    They also met with the Chairman of the Rumanian Senate Foreign Affairs Committee G. Prisacaru and the Rumania - Cyprus Friendship Group of the Rumanian Parliament.

    CNA GG/MCH/1998

    [03] Simitis - Statements on Cyprus

    Athens, Nov 26 (CNA) -- Greek Prime Minister, Costas Simitis, said the Cyprus government must have an effective defence system.

    He stressed, however, that the Russian S300 anti-aircraft missile system which Cyprus plans to deploy, is "is not an end in itself."

    Speaking to foreign correspondents based in Athens, Simitis said tomorrow's meeting with Cyprus President Glafcos Clerides, is not an "extraordinary meeting to discuss the issue of the S300".

    He pointed out however that the issue might be discussed within the framework of the island's demiliratisation and the reduction of tension.

    Asked if the Greek government is examining the possibility of deploying the missiles in Crete instead of Cyprus, Simitis said "it would be improper" to talk about the issue before he had discussed it with President Clerides.

    Simitis said the Greek government fully agrees with Cyprus' right to defend itself.

    He pointed out, however, that this is "not an end in itself". Referring to tomorrow's meeting, Simitis said "we will hear about developments in efforts" towards demilitarisation and reduce the tension on the island.

    "Within this framework, perhaps we might discuss the issue of the missiles, but it would be premature to express an opinion about it before discussing the issue with Mr. Clerides", Simitis added.

    The Greek Premier said "the aim remains, to solve the Cyprus problem" through the UN procedure and upgrading Cyprus' negotiating position and closer cooperation with the European Union.

    UN led efforts to reunite Cyprus, divided since 1974 when Turkish troops invaded and occupied 37 per cent of the island's territory, have so far yielded no results, due to the intransigent positions adopted by the Turkish side.

    The Cyprus government purchased the Russian S300 anti-aircraft missiles in an effort to boost its defence capabilities, in case of a fresh Turkish offensive.

    CNA KI/EC/MCH/1998
    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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