Cyprus Airways outlines its strategic plan

Cyprus Airways has presented its ambitious growth plans for the coming five years to stakeholders during a press conference entitled ‘Cyprus Airways – The Past & the Future’.

2022 was Cyprus Airways’ year of recovery.

During this year the airline embarked on a ruthless restructuring exercise of its operations, network, pricing and distribution channels.

It was also the year that saw it grow month on month, launch new destinations including to Paris and Rome, expand its capacity by investing in additional aircraft, unveil a new fine-tuned livery, and launch a recruitment drive in view of its expansion plans.

Strategic Plan

The airline’s new strategic plan will see it operate a hybrid business model offering customers a low-cost base but also giving them the choice to build their own travel experience by upgrading their services according to their needs.

Fleet and Network Strategy

Next year Cyprus Airways will operate with four Airbus A320ceo aircraft with a view to switch to the Airbus A320neo by 2025.

Plans are in hand to increase the fleet to six aircraft in 2024, nine aircraft in 2025 and up to 11 aircraft by 2026.

Part of this fleet will be used for ACMI (Aircraft, Crew, Maintenance and Insurance) operations and charter services that will allow steady revenue flows and contributions to the airline.

Following the recent launch of services to Paris and Rome, Cyprus Airways intends to continue expanding its European network and develop further point-to-point tourism and business traffic whilst also increasing connectivity to Cypriot nationals.

The airline also intends to offer a network with year-round core scheduled services connecting the Island with main cities within a 1.5-hour range that can offer intra-network connectivity to/from Athens, Beirut and Tel Aviv and feeding to main European cities and its seasonal services to various Greek Islands.

The airline’s plans see it operating to 18 destinations next year and up to 30 destinations by 2026.

In other news, the airline also announced its traffic results for November 2022. During this month, the airline operated a total of 239 flights (406% increase over November 2021) and carried a total of 29,820 passengers (1260% increase over November 2021), registering a load factor of 74%, a substantial increase in seat load-factor of 24 p.p over same period last year.

Top Copyright Photo: Cyprus Airways (2nd) Airbus A319-114 5B-DCW (msn 1129) RHO (Jacques Guillem Collection). Image: 941208.

Cyprus Airways (2nd) aircraft photo gallery: