The government is actively promoting various measures to modernise the existing framework and facilitate investments, Minister of Finance, Makis Keravnos, has said, adding that the aviation sector is crucial to Cyprus' economy, since it contributes to the development to other basic sectors of the economy of Cyprus and supports the Cyprus Connectivity.
In his address at the inauguration of Bird Aviation’s new hangar at the old Larnaca airport on 11 November, Keravnos said that it is an "important” investment project that serves as a “living example of the confidence shown by investors in the prospects of our country".
The Minister added that the new hangar represents an investment which exceeds €2.5 million, reconfirming Bird Aviation’s commitment to continuous expansion in Cyprus.
Makis Keravnos noted that foreign direct investments are not merely capital flows. "They are key drivers for development, innovation, and collaboration. They contribute to the creation of quality jobs, the transfer of know-how, and the enhancement of our economy’s competitiveness." It is for this reason, he said, "the government is actively promoting various measures to modernize the existing framework and facilitate investments."
In his address, Bird Aviation's CEO, Frederic Pralus, said that when Bird Aviation was established in Cyprus, the country had no established MRO tradition, noting that the MRO sector is one of the most stable and essential pillars of aviation.
"From the very beginning, our commitment was clear: To bring to Cyprus an international-standard MRO facility capable of attracting airlines from abroad and creating value locally. Since then, we have invested millions of euros in infrastructure, tooling, and training and in return, generated even more millions in foreign exchange for the economy of Cyprus", he said.
He added that "the best is to come, with airlines from India, Central Asia. Our expertise is being exported, our reputation is growing, and with that comes very good opportunities for the region and for the country", adding that their plan is that by 2026, Bird Aviation will operate six narrow-body bays and one wide-body bay, introducing new aircraft type maintenance capabilities.
Group CEO Uri Sirkis, said that this expansion reflects Bird Aviation's commitment to becoming a competitive provider of quality services in the Eastern Mediterranean, and expressed his confidence "in Cyprus' prospects of becoming an important hub for the aviation industry."
He noted that their goal is to establish Bird Aviation as a regional center of excellence for aircraft maintenance, "a company that competes at the highest European level while remaining proudly based in Cyprus".
(Source: CNA)
