Cyprus Airways Unveils Five-Year Plan
Cyprus Airways (CY) has outlined its five-year plan, which will see its fleet grow, route network expansion and diversification of its business.
Cyprus Airways (CY) has outlined its five-year plan, which will see its fleet grow, route network expansion and diversification of its business.
DALLAS - After 2022 being a “year of recovery,” Cyprus Airways (CY) boss Paul Sies has unveiled a strategic plan for the coming five years at a press conference on Wednesday.
The event, ‘Cyprus Airways – The present and the future,’ was held in Nicosia. In attendance was Deputy Minister of Tourism Savvas Perdios, alongside Transport Minister Yiannis Karousos and Hermes Airports CEO Eleni Kalogerou.
According to the airline, the new strategic plan “will see the operation of a hybrid business model, which will offer its customers a low-cost base, but also enable them to shape their own travel experience, upgrading their services according to their needs.”
From next year, CY will increase its fleet of Airbus A320ceos from two to four and plans to transition to the A320neo by 2025. The fleet will grow to six in 2024, nine in 2024 and up to eleven by 2026.
Sies said that around a third of the fleet would be used for aircraft, crew, maintenance and insurance (ACMI) and charter operations. This will bring in “steady” revenues and other financial benefits.
The carrier is also expanding its network of scheduled routes after recently announcing two new services from Larnaca (LCA) to Paris (CDG) and Rome (FCO). It now intends to serve 18 destinations in 2023, with new routes to Basel, Cairo, Milan, Prague, and Zurich added. Up to 30 destinations will be served by 2026.
“Cyprus Airways is strategically positioned to connect Europe with Asia, the Middle East and Africa,” Sies said. “Our plan is based on being a lean organisation with a strong brand and ambition to achieve the development and structural connection of Cyprus with Europe and beyond.”
https://airwaysmag.com/cyprus-airways-expands-network/
Featured Image: CY has now retired the Airbus A319. Photo: Alberto Cucini/Airways.
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