Cyprus’ tourism will be the main benefactor of the €165 million incentive plan approved by the Council of Ministers for airlines for the period 2023-2027, Philenews reported on Thursday citing insiders.
Wednesday’s decision will bring in up to 13.7 million visitors with the plan getting co-financed by the Transport Ministry and the Mediterranean island’s airport operator Hermes Airports Ltd.
It has been drafted jointly by the ministries of Transport and Finance and aims towards the development of new routes and the increase of passenger traffic.
The Government had recently suspended the incentives plan following strong criticism by the Audit Office and opposition parties as regards phase two of development works at the airports.
Specifically, the criticism focused on the compromise proposal the government was negotiating with Hermes to extend the concession contract airports by 2036.
The plan’s suspension was expected to bring about the loss of 2.5 million passengers.
