Russian S7 Airlines is about to sell its 36,8 percent stake in Cyprus Airways. In view of the corona crisis, the carrier wants to focus on the Russian market in the future. The investment in Cyprus no longer fits the new strategy.

A manager told the agency Interfax that the participation in Cyprus Airways is being scrutinized. It is intended to sell this, but no further details were given. The newspaper Economy Today writes, however, that the sale is nearing completion and that the Cypriot airline will go to a “European group of companies” for “a few million euros”.

Today's Cyprus Airways - apart from the name - has nothing to do with the former state carrier. This went bankrupt in 2015. Together with a partner, S7 set up a new company under the original project name of Charlie Airlines. The naming rights were acquired from the bankruptcy estate. Flight operations began in 2017. The fleet currently consists of two Airbus A319s.