Tuesday, 10 January 2012

Ryanair bets big on Cyprus

Ryanair have today announced that it is to open its 50th base which will be located in Paphos, Cyprus.

The move marks a $140 million investment and the airline will operate 14 routes from Paphos as a direct challenge to national carrier Cyprus Airways. The main UK hub for the flights will be Stansted and the airline hope to operate 80 weekly flights and some 600,000 passengers annually.

It is believed that the move will create some 600 jobs and Alfred Van der Meer, CEO of Paphos Airport holding company Hermes is clearly delighted with such a deal:

“This is a great vote of confidence in the potential of both the airport and our region from Europe’s largest airline. Today’s announcement will help create much needed jobs and tourism and shows that Ryanair shares our confidence in the tremendous opportunity for strong market growth at the airport.”

You are taking over the world faster than Tesco, Mr. O'Leary!

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