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Company Profile



Cyprus Airways Public Ltd
Address21 Alkeou str.
2404 Engomi
P.O.Box 21903
Telephone22 663 054
Fax22 663 167
Email[email protected]
Αντιπρόεδρος/Vice ChairmanMarinos kallis
Μέλος/DirectorAndreas Papadopoulos
Μέλος/DirectorAndreas Petrou
Μέλος/DirectorPanikos Himonas
Μέλος/DirectorDimitris Giannakis
Μέλος/DirectorCharalambos Gavriil
NameΙωάννα Ρίττερ (Αννίτα Αντωνίου)
AddressVironos Avenue 63-65
Entexnon Court, Dep. 001
1096 Nicosia
Tel22 396 275
Fax22 663 167
NameKPMG Chartered Accountants
AddressKPMG Limited
14, Esperidon Street
1087 Nicosia
P.O. Box: 21121
1502 Nicosia
Tel.: +357 22209000
Fax: +357 22678200
e-mail: [email protected]

KPMG Limited
11, 16th June 1943 Street
3022 Limassol
P.O. Box: 50161
3601 Limassol
Tel.: +357 25869000
Fax: +357 25363842
e-mail: [email protected]

KPMG Limited
Millenium Lion House
1G., Aradippioti Street
6016 Larnaca
P.O. Box: 40075
6300 Larnaca
Tel.: +357 24200000
Fax: +357 24200200
e-mail: [email protected]

KPMG Limited
52, Griva Digheni Avenue
8047 Paphos
P.O. Box: 60288
8101 Paphos
Tel.: +357 26943050
Fax: +357 26943062
e-mail: [email protected]

KPMG Limited
Tziovani Blog
2, Soteras Street (2nd floor)
5286 Paralimni
P.O. Box: 33200
5311 Paralimni
Tel.: +357 23820080
Fax: +357 23820084
e-mail: [email protected]

KPMG Limited
Akamas Gate Complex
19, Vasileos Stasikou Avenue
8820 Polis Chrysochou
P.O. Box: 66014
8830 Polis Chrysochous
Tel.: +357 26322098
Fax: +357 26322722
e-mail: [email protected]
NameΧρυσαφίνης & Πολυβίου
AddressΜ. Καραολή 8
1025 Λευκωσία
Last updated: 30/06/2005

The company was founded on the 24th September, 1947 with an authorized capital of CY£250.000. Its main shareholders were British European Airways (44.90%), the Cyprus Government (22.45%), and local shareholders (32.65%).

The following year the Company acquired 3 Dakota and started operating from the airport that had been established in Nicosia and provided services to Middle East and Europe.

Three years later the fleet increased to 6 Dakotas, and new services were inaugurated. With the introduction of the Comet 4B on all routes to the Middle East on April 1st, 1960, Cyprus Airways was the only airline in the area operating purely with jet engine aircraft.

By the early 1970s Cyprus Airways established itself as a full international carrier with its own tour operating company, Cyprair Tours Limited. Two modern Trident aircraft were added to the fleet and two more were ordered. New services were added to the network and booking offices were opened both locally and abroad as well as representation abroad.

The Turkish invasion in July of 1974 put a tragic end to the successful operations of the Company and cancelled all plans for the future. Suddenly Cyprus Airways found itself without aircraft: one of the Trident IE's was completely destroyed, while the other four remained enclaved at Nicosia International Airport, which was under the control of the United Nations.

February 1975 saw the restart of operations from the small Larnaca Airport, with two 73-seater Viscount aircraft leased from British Midland Airways. The first services were operated to Beirut, Tel-Aviv and Athens via Heraklion. There were no direct flights to London but passengers were carried to Athens by Cyprus Airways, and Athens-London by British Airways. Thus air communications between the island and the rest of the world were restored. By the end of that summer the Cyprus Airways fleet had increased to four Viscounts, and both passenger and cargo flights to these three destinations had increased considerably.

At the beginning of 1979 Cyprus Airways received the two Boeing 707s, which had been ordered the previous year, and in April 1979 the fleet was enlarged with the arrival of a third Boeing 707S. Since that time the Company had owned all its aircraft.

In September 1980 the Company's Chairman, Mr. George Eliades, died after 20 years of continuous service with Cyprus Airways. The Cyprus Government, major shareholder of the airline, appointed Mr. Stavros Galatariotis as the new Chairman in January 1981, and a new Board of Directors was formed in February, which embarked on a campaign for the reorganisation and reconstruction of the airline. It's General Manager, Mr. E.Savva, resigned in July of the same year.

In November 1981 British Airways, one of the Company's then major shareholders, agreed to sell most of its shares to the Cyprus Government, and retained a small shareholding of 5%. The Government's shareholding had now increased to 70.86%, while individual shareholders continued to hold 24.14%.

In 1884 the company ordered four Airbus A320 aircraft powered by IAE V2500 engines for delivery in early 1989, with an option for an additional aircraft for later delivery. In so doing Cyprus Airways became one of the five launching airlines of the A320 programme.

Along with its new, modern aircraft, and completely new livery, the company also introduced a special new service for regular business passengers with the formation of the Sunjet Executive Club. Extra benefits and privileges offered to these customers included use of the Sunjet Executive Lounge that was opened at Larnaca the same year.

In 1986 Cyprus Airways' destinations increased to 28 as the island was linked with another seven new destinations. In 1987 the company decided to exercise its option on four additional A320 aircraft for delivery in 1991 and 1992, and also to order a fourth Airbus 310 aircraft, for delivery early in 1989.

In March 1989 the appointment of Mr. Kikis Lazarides as the new chairman of Cyprus Airways was announced. In the face of growing competition, which would only increase as liberalisation of European air services grew closer, the company commissioned an independent survey of its operations by international consultants.

A new Chief Executive Officer was appointed in January 1990. During this year the company's main objective was to render Cyprus Airways more market orientated and customer driven; increase market share, improvement in yield and increased productivity and aircraft utilisation.

The authorised capital was increased to £37.000.000, divided into 75 million shares of 50 cents each and on January 12th 1991 there was a rights issue of 20 million shares of 50 cents each. The Cyprus government owns 80.46% of the shares and the private sector 19.54%.

Meanwhile, turning to productivity and cost, the company introduced a redundancy compensation scheme to reduce its payroll and overall staff levels.

During 1990 the company went ahead with the setting up of a local distribution network. Other plans ranged from the complete redesign of all aircraft interiors and livery to new uniforms, changes in graphics and signage, upgrading of galleys and stowage on the Airbuses, new menus and improved food and beverage equipment. The company also finalised planning its upgraded business class product, which would provide high
yield passengers with comfort, service and facilities of an international standard.

In 1991 a number of new destinations were added to the company's network, and the company also entered an agreement with KLM whereby Cyprus Airways would undertake joint flights on its A320's, in cooperation with the Dutch airline, between Amsterdam, Larnaca, Amman and Damascus. The agreement followed its policy of seeking strategic alliances with major airlines, and demonstrated that Cyprus Airways' operations were perceived to be of a standard comparable with leading European airlines.

The decision having been taken to form a separate charter airline, Eurocypia Airline, the new company was registered in Cyprus with the object of operating with the participation of major tour operators. The new charter company would compete in price and quality with the most efficient European charter operators. It would operate A320's leased from Cyprus Airways with high density configuration.

In June 1991 Cyprus Airways launched its new corporate image, revealing its redesigned livery in colours of blue, ochre and white, with interiors echoing nineties trends and staff attired in updated uniforms.

In 1992 the frequent flyers programme was launched. A reward scheme for Cyprus Airways most loyal passengers. When a traveller flies on Cyprus Airways flights, he/she earns points which can be exchanged for flight or service awards.

In May 1993 followed the resignation of Mr Kikis Lazarides, Mr Vassilis Rologis took over as Chairman of Cyprus Airways.

In July 1995 the three BAC1-11 aircraft were sold to the South African airline Nationwide Air Charter (Pty) Ltd, through the process of international tender. So, as of 1995 Cyprus Airways became an all Airbus operator, with eight Airbus A320s and four A310s. Three of the eight Airbus A320s were in service with Eurocypria under a lease agreement.

End of 1996 Mr Vassilis Rologis resigned from his post as Chairman of Cyprus Airways and in January 1997 Mr Takis Kyriakides was appointed as the new Chairman.

In September 1997 Cyprus Airways proudly celebrated its 50th anniversary. The current decade had presented the company with the most serious and far-reaching challenge since 1974. With the twin threats of intense competition and deregulation of the skies, the airline has effected vital changes in its bid to reposition itself within a fast-changing industry. During the years of the nineties Cyprus Airways has concentrated on improving customer service, reducing costs and aggressive marketing - a strategy designed to channel the airline through the uncharted skies of the future.

Today, the airline has succeeded in attaining its position soaring aloft as a modern, well established international airline. With an all-Airbus modern fleet, serving to over thirty destinations in Europe, Middle East and the Gulf Area, and having their own sales offices both locally and in major cities in Europe, Middle East and the Gulf, as well as representatives' offices in other parts of its network and carrying around one and a half million passengers yearly on its routes, Cyprus Airways contributes greatly in the Cyprus economy.

At the EGM held on 29 June 2005 approved a resolution for company’s name change from «Cyprus Airways Limited» to «Cyprus Airways Public Limited».

The Fleet

Cyprus Airways' fleet consists of four Airbus A310s and eight Airbus A320s. Three of the fleet's Airbus A320s have been leased to Cyprus Airways' charter subsidiary Eurocypria.

Route Network

European Network: The total number of scheduled destinations on European network is 21. These are: Athens, London (Heathrow, Gatwick and Stansted), Amsterdam, Brussels, Frankfurt, Moscow, Paris, Zurich, Vienna, Berlin, Birmingham, Dresden, Hamburg, Heraklion, Manchester, Milan, Rome, Salonica, and Salzburg.

Middle east and Gulf network:

Cyprus Airways' schedules are designed to offer a wide range of connecting flights between Europe and the Middle East and Gulf. Cyprus Airways destinations in the area are: Cairo, Tel-Aviv, Beirut, Damascus, Amman, Jeddah, Bahrain, Dubai and Riyadh.

Product Improvement:

Central of the success of Cyprus Airways' strategy is the quality of its product. Apollo (Business) Class and Aphrodite (Economy) Class incorporate upgraded in-flight service compared to that of the best international airlines.

SunMiles Frequent Flyer Programme:

The SunMiles Programme is a rewarded scheme for Cyprus Airways most loyal passengers. When a traveller flies on Cyprus Airways flights he earns points which can be exchanged for flight or service awards.

Sun Spot Stopover Programme:

The Sun Spot Stopover offers a short break in Cyprus of up to three nights free of charge to passengers travelling on a Cyprus Airways through fare from Europe via Larnaca to the Middle East of Gulf (or vice versa). The stopover may be taken on either the outward or inward journeys, or split between the two.

Bed and breakfast accommodation is offered in a selection of mainly 4 and 5 star hotels in Larnaca, Nicosia, Limassol, Paphos and the Troodos Mountain resorts. Free limousine transfers between the airport and most resorts are also included.

Sunjet Executive Club:

The Sunjet Executive Club provides its members with services and facilities of the highest quality, including the use of the new, modern and spacious Apollo VIP Executive Lounge at Larnaca Airport.

Development of a Subsidiary Charter Airline:

In March 1992 Cyprus Airways launched Eurocypria, a dedicated charter airline subsidiary, designed to compete in the ever-growing charter market to Cyprus.
Eurocypria offers a service more than equal to that of the most efficient charter operators in terms of price and quality. The majority of Eurocypria passengers have been from Britain, Germany and Scandinavia. The airline operates flights to 33 destinations in 9 countries.
Eurocypria's fleet consists of three Airbus A320s leased from Cyprus Airways.


Co-Operative and marketing agreements with other airlines play a major part in Cyprus Airways' strategy.
An agreement between KLM and Cyprus Airways provides for joint services between Amsterdam and Larnaca using Cyprus Airways aircraft and crews. The agreement was upgraded and provides for daily services throughout the year
A code sharing agreement with Alitalia is in force on the Larnaca-Rome and Larnaca-Milan routes. Cyprus airways crews and aircraft operate the flights.

Airport Facilities:

Improvements continue to be made at Larnaca and Paphos airports.

In addition, the Government has accepted the master plan for a completely new, modern terminal building at Larnaca. Phase one will cost around 150 million and on completion will be able to service around 6 million passengers a year. The completion of Phase two will enable Larnaca airport to accommodate an additional 6 million passengers.