Cyprus Airways

Greece?s biggest toy retailer Jumbo posted higher first-half profit year-on-year on Thursday and stuck to its forecast for a 4-6 percent rise in full-year sales despite recent political turmoil in Greece.

Romanian low-cost airline Blue Air has announced that it will launch an Athens-Larnaca route on January 19. The airline will operate the new service seven times per week, with the intention of expanding the schedule to ten flights for the summer season.

The Cypriot government decided on Wednesday to try to sell off the name and logo of national carrier Cyprus Airways, shut down last week after breaking EU state aid rules.

By Alexandra Kassimi

Aegean Airlines announced on Tuesday its expansion to Cyprus, with the aim of covering the gap created by the closure of Cyprus Airways, adding three more aircraft to its Larnaca hub and increasing the direct destinations served to and from Cyprus to 14.

By Alexandra Kassimi

Airlines are seeking to cover the gap left by Cyprus Airways? sudden shutdown last Friday, with Greece?s leading carrier Aegean Airlines making plans to increase its presence on the Eastern Mediterranean island.

Axed Cyprus Airways staff scuffled with police on Monday during protests against the closure of the national carrier after it was deemed to contravene EU state aid rules.

Around 300 airline staff demonstrated outside the Finance Ministry in Nicosia to voice their disagreement with the government over the closure.

The Cypriot flag carrier suspended operations at midnight over a European Commission ruling that it had illegally received state aid.

Cyprus closed down its flag carrier Cyprus Airways on Friday after the European Commission ordered the struggling airline to pay back over 65 million euros in illegal state aid.

Greece's biggest toy retailer Jumbo said on Thursday that sales for the fiscal first half to Dec. 2014 rose 7.7 percent thanks to strong growth outside its home market.

Shares of Cyprus Airways will be delisted from the Cyprus Stock Exchange on January 13, bourse authorities said on Friday, in a fresh blow to the ailing carrier that is under EU scrutiny over concerns that it received illegal state aid.