Cyprus Airways and Aegean bolster strategic cooperation

Aegean Airlines and Cyprus Airways on Thursday announced that they have signed a long-term ACMI (wet lease) deal in which the Cypriot flag carrier will lease two Airbus A320 aircraft to the Greek flag carrier, including cockpit and cabin crews.

According to the announcement, the first aircraft will join the Aegean fleet in December, whilst the second lease will commence at the end of March 2024.

Moreover, it was noted that the agreement was facilitated by aviation and ACMI specialists Zela Aviation.

Since its establishment in 2006, Zela Aviation has been active in the field of aircraft wet and dry leasing, chartering, and aircraft sales. The company has in Cyprus, Greece and the United Kingdom, providing a range of services for its clients located in Europe, Asia, Africa, as well as North and South America.

The announcement continued by saying that this cooperation will provide both Aegean Airlines and Cyprus Airways with a win-win solution, allowing the Cypriot carrier to grow its fleet and benefit from better economies of scale, whilst also providing Aegean with an efficient method to add capacity over the coming 12 months.

Paul Sies, Chief Executive of Cyprus Airways stated that “we are very happy and proud to take the next step in our strategic cooperation with Aegean”.

“We already have an extensive codeshare agreement in place where we work closely to offer and optimise our joint products and services,” he explained.

“We are now taking our cooperation to the next level and working closely with Aegean, also on an operational level,” Sies added.

Meanwhile, Andreas Christodoulides of Zela Aviation said that “we are very proud to have facilitated this project and worked with both flag carriers to see them cooperate further together.”

“We believe in strengthening the synergies between the two companies that will not just benefit both companies but will also provide better products and services to the airlines’ customers,” Christodoulides concluded.