Eurocypria
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Eurocypria
Reading another forum on Cypriot aviation, it says that Eurocypria are to close down operations after the summer season, operations being merged into the mainline fleet of Cyprus Airways. Any one know if there is any truth in this? Shame if it is, as many of the independant tour operators could loose a valuable airline in providing flights from regional airports to the likes of PFO, LCA and HER - all ECA bases. Quite often UK based carriers have no bases or capacity is used by their inhouse operations.
NCL alone has 4 ECA movements per week for small tour ops like Libra & Olympic.
NCL alone has 4 ECA movements per week for small tour ops like Libra & Olympic.
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Not just NCL, HUY as well has 4 Eurocypria flights a week (2 LCA/2 HER). No based aircraft at HUY to pick up the slack and AFAIK no other airlines currently have charter aircraft based in HER or LCA (bar XL in LCA but most timeis spent on LCA scheduled flights). Have to hope CY pick up all ECA operations. And more importantly hope any job losses are kept to a minimum
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A few weeks ago, ECA were cancelling flights left right and centre to Germany. The next day, all flights were back to normal. Luckily, we (Thomas Cook) use only two or three ECA flights a week, so it wouldn't be too bad to cover the flights, but Olympic Holidays use a lot of ECA flights. As long as they keep going until the end of the season, then they can close down. We have enough problems with accommodation and flight delays, nevermind airlines closing down. Hopefully, they will still keep going but I won't hold my breath. I highly doubt the bank will carry them after the summer season.
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So would these not continue under Cyprus Airways as a charter by them or has CA done this to expand its fleet (albeit with an odd type as far as the rest of the fleet goes) so it can commence new scheduled services and that is the cheaper option than sourcing new aircraft?
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I'm not saying they are in any trouble, I just remember the earlier threads saying they were closing down. I then saw the provisional Summer'09 charter timetable (NCL) with a few ECA flights on it, and asked the question. I assume the earlier postings at the top of the thread were incorrect or people at ECA have ahad a change of mind???
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Eurocypria Still Operating
Yes they are, one of their aircrat due into Luton this morning (Tuesday) from Larnaca doing extra flights over the Christmas and New Year period, hope they continue to operate.
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Even if they do merge with Cyprus Airways as was rumoured a while back, I would think CY would take over Eurocypria's charter work. The charter market to Cyprus and the Greek Islands (where ECA have a base in HER) is huge and there are very few reliable good quality airlines available to the smaller tour operators, therefore I would see it as lucrative work. NCL alone has 4 weekly flights programmed next year and I suspect other UK and European airports are the same.
What other charter carriers are available, besides the big UK ones to serve these tour operators?
What other charter carriers are available, besides the big UK ones to serve these tour operators?
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Eurocypria scrambles for loans in bid to stay afloat
By Jean Christou
STATE owned charter airline Eurocypria is in serious financial difficulty but will seek loans to keep it afloat through the current financial crisis, Finance Minister Charilaos Stavrakis said yesterday.
The Minister was speaking after a meeting with Eurocypria’s new chairman, former banker Lefteris Ioannou, and the airline’s board.
Ioannou was appointed by the cabinet on Tuesday to replace technocrat Lazaros Savvides the Permanent Secretary of the Interior Ministry.
“The company faces serious and immediate financial problems,” said Stavrakis.
“There are pressing needs for payments to be made in the coming days. Already the new chairman has begun a series of contacts with banks and co-operatives to ensure loans for the company so that it can meet its needs,” he said.
Stavrakis said all financial help would be in compliance with EU rules, which forbid direct state aid to airlines.
The Minister said Eurocypria had an extremely important role in bringing tourists to Cyprus. The airline’s share of the incoming market was around 15 per cent, which translates into some 300,000 tourists.
He said it would be unthinkable in the circumstances for the government not to support every means of bringing more visitors to Cyprus.
Stavrakis also expressed his full confidence in the new chairman, saying he was confident Ioannou would do a good job in helping Eurocypria’s recovery and survival in the “really difficult times ahead”.
The Minister also thanked Savvides for the valuable service he had performed as non-executive chairman.
Asked whether there was a likelihood that a strategic investor might step in, Stavrakis said negotiations with such an investor would have to be made from a point of strength and not weakness, which characterised Eurocypria today.
“The challenge for us is for the airline to survive and I am sure that the new chairman and board will make their own decisions on strategic planning for the future,” said Stavrakis.
The measures to be taken in the meantime would not be announced, Stavrakis added, when asked whether there would be layoffs at the airline.
Ioannou said the situation was not an easy one, particularly given the international economic climate.
“However, with the support of the government, and the correct handling, the company can survive and continue its important work,” he said.
Two weeks ago, Eurocypria’s 65 pilots issued a vote of no confidence in management and asked the government to replace the board.
The pilots listed a catalogue of alleged mismanagement of the fleet and of network routes, which they said had brought the company to the brink of collapse.
Eurocypria has been experiencing a number of difficulties since the government purchased the airline from national carrier Cyprus Airways in 2006.
Copyright © Cyprus Mail 2008
By Jean Christou
STATE owned charter airline Eurocypria is in serious financial difficulty but will seek loans to keep it afloat through the current financial crisis, Finance Minister Charilaos Stavrakis said yesterday.
The Minister was speaking after a meeting with Eurocypria’s new chairman, former banker Lefteris Ioannou, and the airline’s board.
Ioannou was appointed by the cabinet on Tuesday to replace technocrat Lazaros Savvides the Permanent Secretary of the Interior Ministry.
“The company faces serious and immediate financial problems,” said Stavrakis.
“There are pressing needs for payments to be made in the coming days. Already the new chairman has begun a series of contacts with banks and co-operatives to ensure loans for the company so that it can meet its needs,” he said.
Stavrakis said all financial help would be in compliance with EU rules, which forbid direct state aid to airlines.
The Minister said Eurocypria had an extremely important role in bringing tourists to Cyprus. The airline’s share of the incoming market was around 15 per cent, which translates into some 300,000 tourists.
He said it would be unthinkable in the circumstances for the government not to support every means of bringing more visitors to Cyprus.
Stavrakis also expressed his full confidence in the new chairman, saying he was confident Ioannou would do a good job in helping Eurocypria’s recovery and survival in the “really difficult times ahead”.
The Minister also thanked Savvides for the valuable service he had performed as non-executive chairman.
Asked whether there was a likelihood that a strategic investor might step in, Stavrakis said negotiations with such an investor would have to be made from a point of strength and not weakness, which characterised Eurocypria today.
“The challenge for us is for the airline to survive and I am sure that the new chairman and board will make their own decisions on strategic planning for the future,” said Stavrakis.
The measures to be taken in the meantime would not be announced, Stavrakis added, when asked whether there would be layoffs at the airline.
Ioannou said the situation was not an easy one, particularly given the international economic climate.
“However, with the support of the government, and the correct handling, the company can survive and continue its important work,” he said.
Two weeks ago, Eurocypria’s 65 pilots issued a vote of no confidence in management and asked the government to replace the board.
The pilots listed a catalogue of alleged mismanagement of the fleet and of network routes, which they said had brought the company to the brink of collapse.
Eurocypria has been experiencing a number of difficulties since the government purchased the airline from national carrier Cyprus Airways in 2006.
Copyright © Cyprus Mail 2008
