Cyprus Airways (CY, Larnaca) has revealed ambitious growth plans for the next five years that will see it expand its fleet to 11 aircraft and widen its route network to 30 destinations by 2026.
Next year, it will double its existing fleet to four A320-200s and switch to A320-200Ns by 2025. Plans are afoot to increase the fleet to six aircraft in 2024, nine in 2025, and up to 11 by 2026. Part of this fleet would be used for ACMI operations and charter services, the airline said in a statement. Further details on lessors and aircraft were not disclosed. Cyprus Airways currently operates two A320-200s leased from GECAS, the ch-aviation Commercial Aviation Aircraft Data module shows.
Following the recent launch of services from Larnaca to Paris CDG (France) and Rome Fiumicino (Italy), the Cypriot flag carrier intends to expand its European network and develop other point-to-point tourism and business routes. The plan is to serve 18 destinations next year and up to 30 by 2026. It intends to offer a year-round network of core scheduled services connecting Cyprus with major cities within a 1.5-hour range that offer intra-network connectivity, such as Athens (Greece), Beirut (Lebanon), and Tel Aviv Ben Gurion (Israel). It also aims to feed into the main European cities and target holiday traffic with seasonal services to various Greek Islands.
At a news conference in Larnaca, Chief Executive Officer Paul Sies announced new destinations for Summer 2023 including:
- Milan Bergamo (Italy): 2x weekly with a possibility of 3x weekly flights;
- Zurich: and Basel/Mulhouse/Freiburg, CH (Switzerland): 2x weekly, Basel possibly expanding to 3x weekly;
- Prague Václav Havel (Czechia) 2x weekly; and
- Cairo International (Egypt): 2x weekly.
Other destinations to be served include:
- Irakleion and Rhodes International (Greece): 3x weekly;
- Thessaloniki (Greece): daily;
- Beirut: daily;
- Tel Aviv: 10x weekly;
- Yerevan (Armenia): 4x weekly; and
- Athens: 3x daily.
Sies said that the airline’s new strategic plan sees it operating a hybrid business model combining a low-cost base with scalable passenger services and ancillary revenue opportunities. During 2022, Cyprus Airways restructured its operations, network, pricing and distribution channels resulting in month-on-month growth, the new route launches to Paris CDG and Rome Fiumicino, more capacity, a new livery, a recruitment drive, and digital transformation.
“Cyprus Airways is strategically positioned to connect Europe with Asia, the Middle East and Africa. Our plan is based on having a lean organisation, a strong brand, and ambition to succeed to grow and connect Cyprus to Europe and beyond,” he added.
