Cyprus announces €18m plan for new European Airline

Cyprus announces €18m plan for new European Airline

In the first stage, carriers from the Republic of Ireland, Germany and Italy are being invited to submit proposals for services to commence in summer 2010.  Further target countries are expected to be announced.

ARDSS aims to facilitate the island’s economic development through increased scheduled air transport services with a particular focus on generating sustainable growth for Cyprus’ tourism industry.  Launching the Scheme, Ms. Phoebe Katsouris, CTO’s Director General, said: “Competitively priced increased capacity on a regular, reliable basis between key European markets and Cyprus is central to our strategy for the industry in the medium term.  This Scheme offers substantial financial support in the critical first three years of a new or expanded operation.”

The Scheme has been approved by the EU Commission under the European Union’s Community Guidelines on Financing of Airports and Start-up Support to Airlines Departing from Regional Airports (2005/C 312/01).