Insider Business TUI Group’s strongman in Cyprus for talks

TUI Group’s strongman in Cyprus for talks

One of Russia’s richest men Alexey Mordashov, who is a major shareholder in TUI Group, is to come to Cyprus for talks with the holiday island’s key tourism stakeholders as well as top-ranking officials, reliable sources told INSIDER.

His visit is scheduled in about two weeks with the mission to present the future plans of TUI Group – the world’s number one tourism group which is based in Germany.

TUI Group operates in around 180 destinations worldwide, with TUI Russia’s plans reportedly aiming to triple the flow to Cyprus.

This ambitious effort comes at a time when arrivals from Russia are slightly down for the period January – July 2019 compared to last year’s 4.5%. Between January and July 2019, Russian tourists amounted to about 418,000, compared with 438,000 the same period last year, while in 2017 the number of arrivals reached 462,000.

Due to increased competition from neighbouring countries, such as Turkey, the Russian market is experiencing an anticipated decline and therefore the aim of TUI’s Russian major shareholder is to increase the flow to the island.

TUI Russia brings over about 80,000 Russian tourists to Cyprus annually, according to latest data, but the goal is for that number to rise to 240,000. Since March, TUI Russia already launched direct flights from four different cities to Paphos and Larnaca airports via Azur and Ural Airlines.

Mordashov, aged 53, is the largest shareholder of Severstal, Russia’s fourth-biggest steelmaker and is ranked 48th in the world’s richest people list, according to Forbes.

He also owns stakes in gold producer Nordgold, power generation equipment maker Power Machines, and has investments in National Media Group, Bank Rossiya and wireless carrier Tele2 Russia.

Read more:

Top Stories

Cyprus’ Foreign Ministry announces chartered flight to bring Cypriots back from Lebanon (UPDATE)

Cyprus' Ministry of Foreign Affairs announced that it is planning to charter a flight on Thursday for the immediate return of Cypriot citizens and...

Cyprus’ President expresses condolences to Lebanon and readiness to provide assistance

President of Cyprus Nicos Anastasiades has expressed his deep condolences to the government and people of Lebanon and the islands readiness to provide any...

Police carry out 1,162 coronavirus restrictions checks

Police have carried out a total of 1,162 checks over the past 24 hours on premises throughout Cyprus to ensure compliance with government decrees...

Heavy fines, hunting bans for bird trappers in British bases

More than €10,000 in court fines have been issued to illegal bird trappers in sovereign bases’ area in the past few weeks. Alongside a...

Conflicting scientific views on extend of covid-19 spread in Cyprus

There are conflicting views by members of the scientific team advising the Cyprus government on the novel covid-19 virus and the extend of its...


Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...