Follow Cyprus Investment Immigration and Cyprus Economic news: Recently, the Ministry of Transport of Cyprus signed a new aviation industry stimulation agreement with the Hermes Group, which manages the operation of Cyprus airports, to attract more airlines to launch routes to Cyprus. The stimulation plan involves Paphos and Larnaca airports, with non-discriminatory favorable terms applicable to all airlines. Its purpose is to enhance the aviation connectivity of Cyprus with other countries and promote the development of the tourism industry. The stimulation plan includes the introduction of multiple new routes, the development of winter air passenger transport, discounts on airport landing and take-off fees, the implementation of a "Passenger Volume Growth Incentive Program" for existing routes, and market support for promotional activities conducted by airlines in Cyprus, among others. Cyprus hopes to attract more tourists from existing travel markets and further develop new tourism markets through this initiative.
