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CAIR – Olympic: All scenarios are open

05/04/2011 14:08
Cyprus Airways CEO, Giorgos Mavrokostas talked about a possible share cooperation between CAIR and Olympic Air.

Mr. Mavrokostas and Executive Chairman of Olympic Air, Yiannis Karakadas referred to the results of the cooperation between the two companies that started on March 27 and the positive prospects that emerge.

“The cooperation aims to offer a single quality services package to the passengers”, it was said.

On the question about the strategic cooperation and the fact that “all possibilities are open” as well as whether there are talks on a possible share cooperation between the two companies, Mr. Mavrokostas said that all scenarios are open. “This cooperation has to do with the common code. It will expand to the ground services and the technical support of the two companies, while the aircrafts maintenance can be carried out jointly with Olympic Air in the future”, he said.

On the other hand, Mr. Karakadas said that the two companies have launched a cooperation procedure, which will show how far it will go. “There are neither restrictions nor something that it has been worked out. We just let it progress. There is a good will on behalf of both sides and at the end we will do our best for our shareholders”, he said.

“This cooperation gives a real competitive advantage to both Cyprus Airways and Olympic Air via a wider range of options to our passengers, who choose to take advantage of this expanded network”, he added.

Responding to the question about the financial problems of Cyprus Airways and whether this will affect the cooperation between the two, Mr. Karakadas said that the cooperation will deal with the risks that each air carrier has separately in a competitive international environment. “This means that cooperation will reduce those risks”, he noted,

On the question whether the Larnaca Airport will become the base of the Olympic Air aircrafts, Mr. Karakadas said that the cooperation gives a base of twelve aircrafts, that of Cyprus Airways. “There is no need to bring our aircrafts here. At the current stage, at least”, he concluded.