Hermes Airports and the Ministry of Transport, Communications and Works have signed the Commercial Agreement for the airline incentive schemes covering the period 2022-2027.
The Incentive Schemes which are available to all airlines will be published on Hermes Airports website with immediate effect.
Hermes Airports commented on the renewal of the Commercial Agreement with the Government, stating that implementing the Incentive Schemes until 2027 is crucial for developing air connectivity, the economy and tourism of the island.
“This is even more important at times during which challenges such as the inflation and fuel prices are expected to affect the aviation industry. During this period, we aim at further growth of existing markets, the development of new routes and the enhancement of year-round air connectivity,” Hermes Airports said in an announcement on Tuesday.
It is highlighted that the Incentive Schemes are a continuation of the schemes implemented in Cyprus since 2012, with the contribution of Hermes Airports and the Ministry of Transport and has led to the increase in passenger traffic from 7.3 million passengers in 2011 to 11,3 million passengers in 2019.
Cyprus’ tourism main benefactor of €165m new incentive plan for airlines