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Cyprus Airways eyes ambitious growth plans

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Cyprus Airways plans to rapidly expand its fleet and widen its scheduled destinations in a five-year ambitious growth plan.

During a presentation to stakeholders, the CEO of Cyprus Airways, Paul Sies, highlighted the achievements of the past two years when the airline faced unprecedented events, including the Covid pandemic and geo-political turbulence.

Despite this, he said, the airline upheld its social commitment and supported the Island with much-needed connectivity for repatriation flights and essential services, including mail and cargo.

In 2022 the airline embarked on a ruthless restructuring of its operations, network, pricing, and distribution channels.

It was also the year that saw it grow month on month, launch new destinations, including Paris and Rome, expand its capacity by investing in additional aircraft, unveil a new fine-tuned livery, and launch a recruitment drive.

Strategic Plan

The airline’s new strategic plan will see it operate a hybrid business mode, offering customers a low-cost base and allowing them to build their travel experience by upgrading their services according to needs.

To offer such scalability of services, the airline has embarked on a digital transformation exercise to maximise customer experience.

Distribution of its sales network has also been enhanced through better legacy GDS connectivity to ensure Cyprus Airways seats are easily seen, priced and ticketed globally.

Fleet and Network Strategy

Next year Cyprus Airways will operate with four Airbus A320ceo aircraft with a view to switching to the Airbus A320neo by 2025.

Plans are in hand to increase the fleet to six aircraft in 2024, nine aircraft in 2025 and up to 11 aircraft by 2026.

Part of this fleet will be used for ACMI (Aircraft, Crew, Maintenance, and Insurance) operations and charter services that will allow steady revenue flows.

Following the recent launch of services to Paris and Rome, Cyprus Airways intends to expand its European network and develop further point-to-point tourism and business traffic whilst also increasing connectivity for Cypriot nationals.

The airline also intends to offer a network with year-round core scheduled services connecting Cyprus with main cities within a 1.5-hour range that can offer intra-network connectivity to/from Athens, Beirut and Tel Aviv and feeding to main European cities and its seasonal services to various Greek Islands.

The airline plans to fly to 18 destinations next year and up to 30 destinations by 2026.

Looking Forward

“We are excited to announce five new destinations for summer ’23; Milan, Zurich, Prague, Basel, and Cairo,” said Sies.

Next year the airline will be resuming twice-weekly flights to Prague, Zurich and Cairo and will, for the first time, operate a twice-weekly service to Basel.

Milan Bergamo will also be serviced twice a week, possibly increasing the operation to a three-times-a-week service.

Current trending destinations such as Paris and Rome will remain in operation through summer alongside Santorini (twice per week), Skiathos (twice per week) and Preveza (twice per week).

Crete and Rhodes will be serviced with three-times weekly flights, whilst Thessaloniki will be serviced daily.

Beirut will reclaim its daily service while operations to Tel Aviv will increase to 10 flights per week.

Services to Yerevan, Armenia, are to increase to up to four weekly flights, whilst Athens will be serviced with up to three daily flights.

Sies said: “Cyprus Airways is strategically positioned to connect Europe with Asia, the Middle East and Africa.

“Our plan is based on having a lean organisation having a strong brand and ambition to succeed to grow and connect Cyprus structurally to Europe and beyond.”

Chief Executive Officer of Hermes Airports, Eleni Kaloyirou, said: “Further development of the Cyprus Airways network is a positive.

“I am confident that we will continue working together to contribute even more to our country’s economy and the tourism industry,”