TRAVEL: Airlines battle for a bigger share of the Cyprus pie

While leaving 2018 behind, air carriers operating flights to and from Cyprus are preparing to battle it out for a bigger share of the market in 2019.

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Encouraged by the increase in the number of passengers passing through Cyprus’ two airports airliners are drawing up their flight schedules, while in some cases forming alliances, aiming to fill the void created by the collapse of Cypriot airline Cobalt in October.

Cypriot passengers are also waiting on next moves as air fares still remain higher than the same period last year, especially to favourite destinations such as Athens and London.

According to airports operator Hermes Airports data given to Stockwatch, Aegean Airlines has a head start, as last year the Greek carrier had 8.5% of the market, flying some 932,900 passengers to and from the island.

Coming in close behind Aegean was Ireland’s Ryanair carrying some 870,600 passengers, while Russia’s Rossiya carried 799,900. Rossiya’s third place is a clear reflection of the number of passengers choosing to travel to Cyprus from Russia and the importance the Russian market is for Cyprus.

According to Hermes Airports, a large number of passengers were also handled by EasyJet (781,600), TUI Airways (743,000) and Wizz Air (564,000).

The list of the top ten carriers according to the number of passengers also include Blue Air, British Airways and Thomas Cook World.

Although 2018 did leave it scars on airlines like Cobalt via fierce competition, as the Cypriot low-cost carrier accumulated losses of EUR 100 mln.

The other airlines are reorganising, while some are looking to take advantages of opportunities created by Cobalt’s departure.

Combined passenger traffic at Larnaca and Paphos airports in 2018 reached a new record of 10.9 million travellers, an increase of 6.7% on 2017.