Eurocypria Airlines
Corporate brand
UnclaimedA former Cypriot charter and scheduled passenger airline that operated from 1992 until its liquidation in 2010.
Last updated August 26, 2026
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Overview
Eurocypria Airlines Limited was a Cypriot passenger airline established on 25 March 1992 as a wholly owned subsidiary of Cyprus Airways. It was created as Cyprus's first locally based charter airline, with a business model initially centered on transporting holidaymakers between Cyprus and European destinations. Operations began on 12 June 1992 with two newly delivered Airbus A320 aircraft; the fleet later grew to four aircraft of that type. The airline was based at Larnaca International Airport and also maintained a secondary base at Paphos International Airport. Although charter flying remained central to its identity, Eurocypria expanded beyond purely seasonal charter work. From 2001 it also operated scheduled services from Cyprus, while continuing to carry out charter programs for tour operators and other airlines. It had a long-running operating relationship with Egypt-based AMC Airlines, flying services between Egypt and European markets on that carrier's behalf. This combination of charter, scheduled, and contract flying made Eurocypria part of Cyprus's tourism and air-transport infrastructure, but also exposed it to the limitations of a small, highly seasonal island market. The airline changed its fleet strategy in 2003, replacing its Airbus aircraft with four new Boeing 737-800s. Three of the former Eurocypria A320s were transferred to Cyprus Airways, while two additional aircraft of the same general configuration were added in 2006. In July 2010 the fleet's average age was reported as 6.1 years. Eurocypria's aircraft were named after winds and displayed individually colored tail fins, providing a recognizable visual identity within the Cyprus Airways family and later as a government-owned carrier. Ownership changed materially on 28 June 2006, when Cyprus Airways sold Eurocypria's share capital to the Government of Cyprus for CY£13,425,000. The sale was linked to the financial difficulties of Cyprus Airways and the fact that Eurocypria was one of the few ventures within the group regarded as profitable at that time. After the transaction, Cyprus had two state-owned airlines: the national carrier Cyprus Airways and the smaller, mainly charter-oriented Eurocypria. The coexistence of the two companies became increasingly controversial as both faced pressure from a limited home market, competition, and weak financial performance. In February 2010 the government proposed a €35 million capitalization for Eurocypria. The stated purpose was to settle approximately €28 million in debt and provide resources for the airline's future. Cyprus Airways argued that a small island could not sustain two state-owned airlines and warned that both companies could eventually fail if restructuring or closure did not occur. The government nevertheless proceeded with the support after parliamentary approval. The proposed financing prompted a complaint to the European Commission alleging that the measure could breach European Union state-aid rules. Reports released in June 2010 had warned that Eurocypria needed strict implementation of its business plan and a strategic investor, and that failure to secure one could result in bankruptcy. The company's situation deteriorated during 2010. The government considered reducing the fleet to four aircraft, prompting a pilots' strike on 3 September. In September, the Finance Minister also disclosed that a possible combination of Cyprus Airways and Eurocypria operations was under consideration. The European Union rejected the proposed operational solution, and the airline was unable to establish a viable path forward. On 4 November 2010, Eurocypria's board decided to suspend all flights and place the company into liquidation. The airline was expected to cease all flying by 13 November, but operations had already been stopped by the board's 4 November decision. Eurocypria therefore survives as a historical Cypriot airline brand rather than an active carrier.
History
Eurocypria Airlines was founded on 25 March 1992 as a wholly owned subsidiary of Cyprus Airways and became the first charter airline based in Cyprus. It started flying on 12 June 1992 with two new Airbus A320 aircraft. Two more A320s were added later, giving the young carrier a fleet suited to leisure routes and seasonal holiday demand. The airline initially concentrated on charter services, linking Cyprus with European tourism markets. From 2001 it also operated scheduled services from Cyprus while retaining its charter business. It developed a long-standing commercial relationship with AMC Airlines, an Egyptian carrier, operating flights between Egypt and European destinations on AMC's behalf. Its principal base was Larnaca International Airport, with Paphos International Airport serving as a secondary base. In 2003 Eurocypria replaced its Airbus fleet with four new Boeing 737-800 aircraft. Three former A320s were transferred to Cyprus Airways, and two additional aircraft of the same type and configuration were added in 2006. The carrier's aircraft were named after winds and had differently colored tail fins. As of July 2010, the fleet's reported average age was 6.1 years. A major ownership change took place on 28 June 2006, when Cyprus Airways sold Eurocypria's share capital to the Government of Cyprus for CY£13,425,000. Cyprus Airways was under financial pressure, while Eurocypria was considered one of the few profitable ventures in the group. The sale turned Eurocypria into a separately government-owned airline and left Cyprus with two state-owned carriers. The relationship between the two companies became a continuing policy issue because the domestic market was small and both companies faced financial strain. On 19 February 2010 the government announced a €35 million capitalization for Eurocypria. The plan was intended to clear about €28 million in debt and finance the airline's future. Cyprus Airways opposed the approach and argued that the island could not support two state-owned airlines. A legal firm representing an unidentified client submitted a complaint to the European Commission, asserting that the funding could be incompatible with EU state-aid rules and later requesting interim measures. Government reports disclosed in June 2010 expressed reservations about the rescue plan. One report recommended strict implementation of the business plan and finding a strategic investor. It also stated that failure to do so could lead to bankruptcy and that transferring some personnel and assets to Cyprus Airways could reduce the cost of failure. The reports generated political disputes over whether lawmakers had been properly informed before approving the injection. Eurocypria's financial and operational problems continued. A proposal to reduce the fleet to four aircraft in 2011 led to a pilots' strike on 3 September 2010. In September, the Finance Minister announced that a possible merger or operational combination with Cyprus Airways was being examined. The European Union rejected the possibility described in the cited account. On 4 November 2010, Eurocypria's board suspended all flights and decided that the company would enter liquidation. The airline ceased operating in November 2010 and is now a defunct Cypriot airline brand.
- 2010
Government capitalization is announced
[1]The government announces a €35 million capitalization intended to address debt and support the airline.
- 2010
Pilots strike over fleet plans
[1]Pilots strike on 3 September in response to a proposal to reduce the fleet to four aircraft in 2011.
- 2010
Operations end
[1]The board suspends all flights on 4 November and places the company into liquidation.
- 2006
Ownership passes to the Government of Cyprus
[1]On 28 June, Cyprus Airways sells Eurocypria's share capital to the Government of Cyprus for CY£13,425,000.
- 2003
Fleet transitions to Boeing 737-800 aircraft
[1]The airline replaces its Airbus fleet with four new Boeing 737-800 aircraft.
- 2001
Scheduled flying is added
[1]Eurocypria expands from its charter focus to include scheduled services from Cyprus.
- 1992
Eurocypria is established
[1]Cyprus Airways establishes Eurocypria on 25 March as a wholly owned subsidiary and Cyprus's first locally based charter airline.
- 1992
Commercial operations begin
[1]The airline begins flying on 12 June with two new Airbus A320 aircraft.
Products and positioning
A Cyprus-based leisure and charter airline serving the island's tourism economy, with additional scheduled and contract operations.
Passenger aviation · 1992
Charter passenger services
Eurocypria's core business was charter air transport for holiday and tourism traffic. The airline connected Cyprus with European markets and operated flights arranged through tour operators and related travel businesses. Its principal base at Larnaca and secondary base at Paphos supported Cyprus's resort economy and seasonal visitor flows.
Passenger aviation · 2001
Scheduled passenger services
Beginning in 2001, Eurocypria supplemented its charter program with scheduled services from Cyprus. Scheduled flying broadened the airline's role beyond seasonal holiday transport, although the carrier continued to be identified primarily with leisure and charter operations.
Contract passenger aviation
Contract operations for AMC Airlines
Eurocypria had a long history of operating flights on behalf of Egypt-based AMC Airlines between Egypt and Europe. This work represented an additional source of utilization for the carrier's aircraft and crews outside its Cyprus-centered charter and scheduled programs.
Brand decisions
2010
Capitalize and restructure the airlineStrategyBackground
Eurocypria faced debt and financial pressure while the government sought to preserve the carrier's operations.
Action taken
The government approved a €35 million capitalization, intended in part to repay approximately €28 million of debt and support the airline's business plan.
Aftermath
The measure failed to produce a sustainable outcome. Reports called for a strategic investor, and the company later suspended operations and entered liquidation.
Government capitalization and debt addressed. €35 million capitalization; approximately €28 million of debt identified for repayment (February 2010)
- Cyprus Airways — Cyprus Airways argued that Cyprus could not sustain two state-owned airlines and warned that both might fail without structural change.
2010
Consider combining operations with Cyprus AirwaysStrategyBackground
Losses at both state-owned airlines led the government to examine whether their operations could be combined.
Action taken
The Finance Minister announced that a possible merger or operational combination was under consideration.
Aftermath
The European Union rejected the possibility described in the source account, and Eurocypria ceased operations later that year.
2006
Sell Eurocypria to the Government of CyprusM&ABackground
Cyprus Airways was experiencing financial difficulties, while Eurocypria was one of the group's few ventures regarded as profitable.
Action taken
Cyprus Airways sold Eurocypria's share capital to the Government of Cyprus.
Aftermath
Eurocypria became a separately state-owned airline alongside Cyprus Airways.
Share-capital sale price. CY£13,425,000 (28 June 2006)
2003
Replace Airbus A320 fleet with Boeing 737-800 aircraftGeneration changeBackground
The airline revised its fleet strategy as it developed its charter and scheduled networks.
Action taken
Eurocypria replaced its Airbus fleet with four new Boeing 737-800 aircraft; former A320 aircraft were transferred to Cyprus Airways.
Aftermath
The Boeing 737-800 became the carrier's principal aircraft type during its later years.
Sources1 sources
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