It fails to mention that the fleet will be cut down to 6 aircraft, plus one spare, as its been mentioned in the local news. An aeroclub, rather than an airline.
Here is a comment on the local newspapers' articles that summarizes typical management lossmaking decisions:
They bought (ok, leased) the two Airbus A321's from Jordan last year, they had them re-painted, kitted out with new higher density seating to cater for the London and Paris routes, at great expense, they were essentially to replace the "unsuitable" A330's that were being disposed of. They are now sitting idle at Larnaca waiting to be sold. Why ? Because no one in the company had the brains to tell them that Royal Jordanian were using the aircraft in lower seat capacity and therefore have lower power engines because they operated at a lighter load, and when CA increased the capacity and hence heavier operating loads, the engines could not climb the aircraft above 30,000 ft ! whilst flying to London, which rendered them quite useless for the purpose