CAIR in JV with Swissport and GAP for ground handling

Cyprus Airways Public Ltd announced that following an evaluation of the proposals submitted by four organizations (Swissport and GAP Vassilopoulos (Cyprus) Ltd, Flightcare Cyprus Ltd, Louis Tourist Agency and 2-Serve) for a joint venture in Ground Handling, the Company decided to select the proposal of Swissport and GAP Vassilopoulos (Cyprus) Ltd. The Company’s stake in the share capital of the joint venture will be slightly above 25%.
The negotiations between the Company and Swissport and GAP Vassilopoulos (Cyprus) Ltd for the finalization of the agreements that will govern their relations and the relations with the joint venture will start soon.