Cyprus Airways eyes Slovenian unit

The national carrier of Cyprus has held talks with the Slovenian government over its potential entry onto the market through a Slovenian subsidiary. It comes as Slovenia looks to set up a new national airline through a Public Private Partnership agreement. Representatives from Cyprus Airways and its shareholder ArcosJet held an introductory presentation at the Slovenian Ministry for Infrastructure in Ljubljana earlier this month. “The Cyprus Airways model is based on the use of the former Cyprus Airways brand in a new operating environment with the most modern fleet and a highly sophisticated commercial/digital platform, as they have strong technical support for commercial activities. With this model, they can operate in any region of the world and under any brand. They intend to expand in the wider region, so they are interested in establishing a company in Slovenia and possibly in some other countries in the region in the future”, the Ministry for Infrastructure said.

The Ministry presented Cyprus Airways with its own plans to establish a new flag carrier following the demise of Adria Airways in 2019. Cyprus Airways itself declared bankruptcy in 2015. Following the collapse of Cyprus’ biggest airline, a different company, legally known as Charlie Airlines, obtained permission to use the Cyprus Airways brand name. In 2016, this new airline emerged under the familiar name of Cyprus Airways but as a separate entity from the former flag carrier. When it first started, Charlie Airlines, operating under the trade name of Cyprus Airways, was a joint venture between Russia’s S7 Group, which held a 37% stake in the airline, and local investors, who held the majority of the remaining shares. However, five years after its establishment, Russia’s S7 sold its 37% stake in Cyprus Airways to the SJC Group, “a Maltese group with operations across Africa and the Middle East, incorporating a number of different activities including commercial helicopter flight operations and maintenance from dedicated hangars within Malta International Airport”.

Cyprus Airways currently operates just two Airbus A320 aircraft but plans to add ten A220s into its fleet over the next five years. It will also expand its route network, with plans to serve up to thirty destinations by 2026. This growth will allow the airline to connect travellers to a broader range of destinations and enhance its position in the market. Currently, the carrier serves nineteen destinations  across Europe, Africa, and the Middle East out of its base in Larnaca, including key cities such as Paris, Rome, Athens, Beirut and Cairo.