I have been asked to repost this to the Crete Forum from the original Cyprus Forum as I am told the airline operates to Crete from UK.
I am limited by the fact that I have to rely on the English language press and web sites here but it appears that there is a major problem with Eurocypria airline. It seems that it may have been either shut down or the staff are on indefinite strike. The closure story is that the CEO is not happy that he can run a safe airline with a disaffected staff. Cyprus Airways are apparently trying to sort the flight problems out for passengers.
From what I can find UK is not much affected but remember I can not read Greek so there may be better information elsewhere.
Longer term it is the government's plan to merge the 2 debt ridden airlines, but the EU has to rule on that nor are the staffs of the airlines happy with the plans and job losses.