What happen to Cyprus Airways?

Cyprus Airways Airbus A320-200 5B-DCH ex America West Airlines N674AW seen in Amsterdam, NL 22nd July 2014.

It's been on year since the departure of Cyprus Airways, what happen to the airline now?

First let's go back in time in 24th September 1947. Cyprus Airways was Cypriots main airliners in Cyprus operated part of the European Union, Russia and the Middle East with so many Codeshare agreements that are Aeroflot, Air France, Alitalia, Bulgaria Air, Etihad Airways, Gulf Air, KLM, Middle East Airlines, TAROM and Virgin Atlantic. However Virgin Atlantic was the main one travelling from London Heathrow, Manchester, Edinburgh, an Aberdeen UK to the United States. As of 31st October 2013, Cyprus Airways had 6 Airbus A320 Family that makes five A320-200 and one A319. One interesting fleet is that Cyprus Airways had Airbus A330-200 in 2002 to increase more passengers but due to financial trouble by the Cypriot Government and the European Union, the A330 was retired in 2013.

So let's talk about why did Cyprus Airways doesn't exist. In February 2012, Cyprus Airways suffered financial trouble the Cypriot Government owned 93.6% of the airline it was expected Aeroflot to buy the airline but it never did. Due to Cyprus Stock Exchange been suspended on 23rd May 2012, Cyprus Airways started to collapse when the airline loss of €55,8 million in New Years Eve 2012 to a loss of €23,9 million in 2011. In 31st March 2014, Cyprus Airways set a sale to Middle East Airlines in Lebanon for €6.3 million however on 9th January 2015 the European Commission forced the Cypriot Government to ceased Cyprus Airways after 3 years of financial difficulties so what is the main course of Cyprus Airways no longer exist? The answer is Cyprus Airways went bankrupt.

Today the only main airline operate Cyprus is a Greek Airline Aegean Airlines in Larnaca and Irish airline Ryanair in Paphos.