A Russian airline has successfully bid to use the brand name of the now defunct Cyprus Airways.
Charlie Airlines, a subsidiary of Russia’s S7 airline has paid just over 2 million euros for the licence to use the brand name, logo and trademark for the next ten years to operate flights to and from Cyprus.
The agreement could be renewed for another five years “on the basis of negotiations of financial and commercial terms, between the Republic and the successful bidder”, the South’s privatisation unit said. However, the Finance Ministry will continue to be the owner of the brand name, logo and trademark which it acquired in December 2014, a month before the loss-making state-run airline became bankrupt.
According to media reports, Charlie Airlines successfully outbid Greece’s Aegean Airlines in the tender.