In a surprise move that could set the stage for a vicious price war among airlines, easyJet has slashed its single fare from Larnaca to Gatwick to a mere 19 euros, as the budget airline desperately tries to cash in on the ethnic market of Cypriots travelling to Britain and the high volume of student traffic, as well as bargain-hunting tourists. The offer is available on a limited number of seats for out-bound fares from Larnaca to easyJet’s secondary hub and includes all taxes, probably deferred or absorbed as part of a deal with the government that is trying to encourage more airlines to maintain Cyprus on their destination schedules.
(For offer details, follow the easyJet banner link on our website www.financialmirror.com )
easyJet, that took over GB Airways nearly two years ago and inherited the daily schedule to Paphos, started four weekly flights from Gatwick to Larnaca on Tuesday. But it is in dire need of filling capacity as the February passenger data for all destinations showed a fall, despite enjoying a general increase for the 12-month period. The easyJet offer has placed increasing pressure on state-controlled Cyprus Airways that is being hammered on all fronts with rival airlines offering cut-price fares to and from its popular destinations in order to pick up market share in advance of the cut-throat summer season. But the ‘flying moufflon’ has not given up. It has countered with its own offer of 14 euros to Athens and Beirut, in a move seen as largely countering the radical pricing by Aegean sweeping the market with its clever advertising campaigns, while start-up Athens Airways also plans to start daily schedules next year. “We are not a charity, but we cannot stand by and watch the competition sweep the market from under us,” said CAIR spokesman Kyriakos Kyriakou. CAIR was recently forced to reconsider its plans to scrap the loss-making Larnaca-Paphos-Athens flight after Aegean announced plans to increase the number of its weekly flights to 76, including three to Paphos. Cyprus Airways countered with an offer of 134 euros for 4,500 seats, but these quickly sold out, prompting the airline to consider today’s new package offering a drastic cut on its airfare to Athens. The Beirut offer aims to take advantage of the upcoming Easter holidays when many Cypriots will be spending their first of three bonus paycheques on shopping bargains and jewellery in the Lebanese capital. Cyprus Airways first started the price war last December when it slashed 100 pounds off the London-Larnaca fare and dropped it to GBP 179, including taxes for all travel until June 20.
(FINANCIAL MIRROR SPOOF STORY FOR APRIL FOOL'S DAY)
