Cyprus Airports Experience Sharp Decline Amid Middle East Turbulence

Declining Numbers Signal Shifting Trends

Passenger traffic at Cyprus airports declined 15.3% year over year in March 2026, according to Hermes Airports. Total traffic reached 599,218 passengers, compared with 707,204 in March 2025, indicating a clear slowdown after previous months of growth.

At Larnaca Airport, passenger numbers fell 17.1%, from 501,594 to 415,686. Paphos Airport recorded a 10.7% decline, with traffic decreasing from 205,610 to 183,532. The data show a broad-based decrease across the country’s main entry points.

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Regional Instability Influences Traveller Behavior

The decline follows ongoing tensions in the Middle East, which have affected travel demand and booking patterns across the region. Airlines reported higher cancellation rates and slower bookings for March and April, particularly for routes linked to the Gulf. Flights to Qatar have been suspended, while European routes continue to operate with limited disruption.

Government Intervention And Future Outlook

The tourism sector has identified May 2026 as an important period for assessing demand recovery and booking trends ahead of the summer season. Authorities introduced a support scheme offering a 30% payroll subsidy for hotels with occupancy below 60% or revenue declines exceeding 40%. The measure is aimed at supporting businesses affected by reduced tourist flows and lower occupancy rates.

Industry participants continue to monitor booking patterns, cancellations, and occupancy levels as regional developments influence travel demand.

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Eurobank Approves €258.7M Dividend And €288M Share Buyback

by THEFUTURE.TEAM

April 29, 2026

Robust Dividend And Share Repurchase Initiatives

Eurobank S.A. shareholders approved a dividend distribution of €258.7 million at the annual general meeting held on April 28. The resolution was supported by approximately 77% of paid-up capital, representing more than 2.77 billion voting shares. The dividend will be paid from special reserves and remains subject to approval by the European Central Bank.

Strategic Share Buyback And Capital Optimization

In addition, shareholders approved a share buyback programme of up to €288 million over the next 12 months, pending regulatory clearance. The programme includes the cancellation of 28,097,019 own shares, which will reduce share capital by approximately €6.18 million. Following this adjustment, total share capital is set at €792,751,032.04, divided into around 3.6 billion ordinary voting shares with a nominal value of €0.22 each.

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Enhanced Executive And Employee Incentives

Alongside capital measures, the meeting addressed remuneration. Shareholders approved an allocation of €35.2 million from special reserves for employee compensation. A five-year programme was also introduced to distribute shares to eligible executives and employees of Eurobank and affiliated entities. In parallel, a revised variable remuneration framework allows selected senior executives to receive up to 200% of fixed pay.

Governance And Audit Oversight Reforms

Changes were also made at the board level. Alexandra Reich was appointed as an independent non-executive director, replacing Jawaid Mirza. Following this appointment, eight of the thirteen board members are classified as independent. Amendments to the articles of association introduce flexibility in board terms and allow partial renewals.

Strengthening Audit And Sustainability Commitments

On the audit side, KPMG Certified Auditors S.A. was appointed as the statutory auditor for 2026. The fee is set at €1.8 million for statutory audits of separate and consolidated financial statements, with an additional €0.3 million allocated for assurance of the sustainability statement. The meeting also approved the 2025 remuneration report and confirmed committee fee arrangements, alongside updates on audit committee activity and independent director reporting.

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