Cyprus Airways says it has no plans to stop flying

Cyprus Airways Ltd described media reports that it was about to stop flying as ?scaremongering? and said it will continue operating.

?Such scaremongering is unfounded, lacks seriousness and may probably serve other agendas,? the state-run company said in an e-mailed statement on Tuesday.

?It also causes confusion and uncertainty among passengers intending to travel with the company.?

The airline, which posted losses of 29.3 million euros for the first half of 2011, said it is in talks with shareholders, including the Cypriot government which owns 70 percent, to secure its viability and to attract a ?credible strategic investor.?