CYPRUS AIRWAYS TO RETURN A330'S
Both of the A330 aircraft will be handed back to the leasing company in December 2011 and Janaury 2012 after completion of their current contracts for the Royal Air Force flying troops from UK Bases to overseas fields..........
2 x A321's will be leased to compensate.
below is an extract from the airlines latest financial report.......................
a letter of intent has been signed with the leasing company for
the early termination of the lease of the two A330 aircraft in December 2011 and
January 2012 respectively, which is about one year earlier than the lease expiry
date, against the payment of a termination penalty. The early redelivery of the
A330 aircraft is expected to bring about a significant improvement to the
operating result of the Company. At the same time it was agreed to lease two
A321-200 aircraft for a period of six years with delivery dates in April and May