Aegean Airlines (A3, Athens) has outlined plans to fill the shortfall in operational capacity left by the recent demise of Cyprus Airways (1947) (Larnaca). The Greek carrier said Saturday that it will begin daily non-stop flights between Larnaca, Cyprus, and Tel Aviv Ben Gurion, Israel, on March 29 to be followed on March 31 with a 3x weekly service from the Cypriot resort town to Kyiv Boryspil, Ukraine.
“The strategy for our growth from Cyprus continues, investing in the quality relationship we have established with the Cypriot market. The launch of direct flights from Larnaca to Tel Aviv represents another important step towards the implementation of our company's strategic plan. At the same time, these new flights will support business growth and the increase of tourism to Cyprus,” Aegean's CEO, Dimitris Gerogiannis, said.
Both Aegean and Ryanair (FR, Dublin International), once touted as possible strategic partners for Cyprus Airways, have submitted applications to Cypriot authorities to create their own respective subsidiaries on the island.
For its part, the Cypriot government says it wants to partner private players in establishing a new airline to succeed bankrupt Cyprus Airways. The carrier would use Cyprus Airways' brand name and company logo which Nicosia bought for EUR1.2 million in December last year.
"We want to initiate the procedure to create a new company in cooperation with the private sector," minister Marios Demetriades told the Cyprus Mail. "We have already acquired the company logo and brand name and we instructed the commissioner for privatisations to appoint an advisor to have an open and transparent procedure.
Cyprus Airways suspended operations on Friday, January 9, after the European Commission (EC) ordered the carrier to repay EUR65million (USD81million) in illegal state-aid.
