Record-Breaking Passenger Traffic At Cyprus Airports: March 2025 Sees Remarkable Growth

by News Editor

April 8, 2025

March 2025 has proven to be a milestone month for Cyprus’s aviation industry, marking a 5.91% increase in passenger numbers compared to March 2024. Both Larnaca and Paphos airports collectively processed 707,304 passengers, establishing the highest traffic ever recorded for the first quarter of the year.

Analyzing the Traffic Surge

In an official statement, the Ministry of Transport highlighted this continuous growth, echoing the positive trends seen throughout 2024. Specifically, passenger volume at Larnaca Airport surged by 15.17%. Conversely, Paphos Airport observed an 11.45% decline in travelers year-on-year.

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Key Contributors To Growth

The dynamic increase in flights reached 5,921 movements, translating to a 5.85% boost from last year. Greece, the United Kingdom, Israel, Poland, and Germany emerged as pivotal markets in this traffic escalation.

Regional Traffic Insights

Larnaca Airport celebrated significant increases on routes connecting to Israel, Greece, the UK, Poland, and Armenia. Meanwhile, Paphos Airport saw growth in traffic to Germany, Israel, Sweden, Lithuania, and Ireland.

Shifts In Regional Traffic

Despite these improvements, certain regions experienced decreased traffic. Larnaca Airport faced declines from Germany, Austria, France, Lithuania, and Hungary, while Paphos Airport saw reductions from Greece, Italy, France, Hungary, and Bulgaria.

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Bank Of England Holds Rates At 3.75% In Split Vote As Inflation Risks Rise

by THEFUTURE.TEAM

September 17, 2026

The Bank of England kept its benchmark interest rate at 3.75% on Thursday, but the decision was not unanimous. In a 6-3 vote, the Monetary Policy Committee kept rates unchanged, while three members backed a 25-basis-point increase to 4%. Renewed energy price pressures have added to concerns that inflation could remain elevated.

Inflation Pressures Remain

Policymakers said inflation “is likely to rise further over coming quarters,” citing higher and more volatile crude oil and refined energy prices since the conflict began.

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So far, there has been “little evidence” of significant second-round effects, such as broader wage and price increases. Inflation risks, however, are now “tilted to the upside” and have increased since the July Monetary Policy Report.

Energy Prices Add To Inflation Risks

Brent crude has risen 36% since July, reaching $106 a barrel on Sept. 14, while UK wholesale gas prices increased 78% to 207 pence per therm.

Higher energy costs can feed into transport, production and household expenses, raising costs across supply chains. Refinery pressures have also pushed crack spreads, the difference between refined fuel and crude prices, well above pre-conflict levels.

Economy Shows Resilience

Despite the inflation risks, UK economic activity has held up slightly better than the Bank expected. A softer labor market and higher borrowing costs are expected to help reduce inflation over time.

Previous monetary tightening is still working through the economy, according to policymakers. So far, the latest energy shock has not produced clear evidence of a broader wage-price spiral.

Major Central Banks Take Different Paths

The decision comes during a busy period for global monetary policy. The Federal Reserve raised rates Wednesday to 3.75%-4% in its first increase since 2023, while the European Central Bank recently lifted its deposit rate to 2.5%.

The Bank of Japan is due to announce its decision Friday, with markets expecting a rate increase. Thursday’s split vote shows that pressure for tighter policy remains within the Bank of England’s Monetary Policy Committee.

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