Hellenic Seaplanes (Athens) could launch services as early as June this year if the Greek government moves ahead with plans to expedite the start-up's certification process. Nicolas Charalambous, president and chief executive officer of Hellenic Seaplanes, told Bloomberg newswire in an interview that he intends to develop Hellenic Seaplanes into a feeder carrier for airlines such as British Airways (BA, London Heathrow) and Aegean Airlines (A3, Athens) with codesharing agreements also a possibility.

Outlining the start-up's business plan, Charalambous said Hellenic Seaplanes has secured EUR16.5million from U.S. and European private equity funds to finance plans to buy or lease 20 new planes - believed to be DHC-6 Seaplanes.

Hellenic Seaplanes has secured traffic rights to operate between the Ionian Sea island of Zakinthos, the western port of Patras, the northwestern island of Kerkyra and the central port of Volos, serving neighboring islands including Skopelos.

"The company is in contact with cruise and tour operators for possible deals on sightseeing flights, Charalambous said. In cargo, it’s working on a partnership with DHL Worldwide Express and is talking to Interamerican, Greece’s biggest health insurer, about medical evacuation operations."

Charalambous added that in the long term, Hellenic Seaplanes will target the Cypriot casino scene which, given its proximity to Egypt, Lebanon and other Middle Eastern countries, could prove very lucrative.