Foundation deal of Northern Cyprus Airlines signed in Lefkosa

Founded with a capital of 20 million Turkish liras, "Northern Cyprus Airlines" is the first company that has been established by public-private sector cooperation in TRNC.

Foundation deal of Northern Cyprus Airlines signed in Lefkosa

The foundation agreement of "Northern Cyprus Airlines" of Turkish Republic of Northern Cyprus (TRNC) was signed in Lefkosa on Tuesday.

The agreement was signed by the government of TRNC, representatives of the Turkish Cypriot private sector and Turkey's national air carrier Turkish Airlines (THY).

According to the deal, 60 percent of the shares of the newly founded airline company belong to Turkish Cypriot businessmen, as 30 percent belong to the Turkish Cypriot state and 10 percent to THY.

Founded with a capital of 20 million Turkish liras (TL), "Northern Cyprus Airlines" is the first company that has been established by public-private sector cooperation in TRNC.

The company, which was established as a result of Turkish Cypriot Airlines' (KTHY) declaring bankruptcy last year, will carry out passenger and cargo transportation starting from March 2011.

Attending the signing ceremony of the partnership agreement of "Northern Cyprus Airlines", TRNC's Prime Minister Irsen Kucuk said today was a good start for the Turkish Cypriot state and private sector.

"We would like to see our businessmen participate in future projects as well," Kucuk said, adding all projects and investments could be fulfilled successfully thanks to unity.

TRNC's Public Works & Transportation Minister Hamza Saner said in his part that the newly established airline company was a "first" in TRNC, as it constituted a partnership between the state and private sector.

The minister said he hoped such cooperation would set an example for future consortiums to be established by Turkish Cypriots and foreign investors.

Speaking at the gathering, THY's chairman of the board Hamdi Topcu said that his company aimed at connecting Turkish Cypriots to the world and it would use its knowledge and experience for TRNC's new national air carrier.

Noting that the new company did not aim at making profit, Topcu said THY's goal was to make "Northern Cyprus Airlines" TRNC's pride.


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Last Mod: 18 Ocak 2011, 16:36
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suleyman tosun beng hons
suleyman tosun beng hons - 10 yıl Before

dear editor to me the previously owned kthy was the same as kkhy .so the old and new airline of north cyprus has no difference only new extra board of members.but services and same aeroplanes are to be used and its these that makes passengers feel crumpy and poor service.FROM london to north cyprus we need to use boeing 747s we used due to caa 5 hour flight but instead the airline will use the old crumpy boing 737 which is dangerous to public its healt and safety is poor.