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€165 million incentive plan for airlines
October 26, 2022
The cabinet on Wednesday approved the €165 million incentive plan for airlines for the period 2023-2027 to bring in up to 13.7 million visitors, which had been proposed jointly by the ministries of transport and finance.
The plan is worth €165.6 million and will be co-financed by the transport ministry and airport operator Hermes Airports Ltd.
The implementation of incentive plans between 2012 and 2022 was a necessary tool in the efforts to develop Cyprus’ air connectivity and had as a primary objective the development of new routes and the increase of passenger traffic, an announcement by the ministry said.