Cyprus-Greece ferry service faces potential end in 2027 without subsidy extension
The Cyprus-Greece ferry route risks ending in 2027 unless the government extends its subsidy, according to Charalambos Manoli, CEO of Scandro Holding Ltd. Manoli described the route as "not viable" without continued state support, citing weak demand and high operational costs. Despite initial plans for a self-sustaining service, the ferry struggles to generate sufficient revenue during its short sailing season from late May to early September.
The European Commission initially approved state support through 2027, after which the company is expected to operate independently. However, upcoming EU regulations ending CO2 emission charge exemptions by 2029 and rising fuel costs are expected to push prices higher, further complicating the financial outlook.
The Audit Office has criticized the current subsidy model, highlighting incentives that reduce operational efficiency and noting that subsidies currently cover about 93% of operating costs. It flagged poor booking practices and instances where cabins were underutilized despite ticket unavailability. Since 2022, the state has paid over 20 million euros in compensation to support the ferry link.
No news yet
CYPRadar is a state-of-the-art, AI-powered Cyprus news aggregator that automatically crawls, filters, and translates local updates in real time. By continuously scanning a wide range of trusted Cypriot media outlets, blogs, and official RSS feeds, the platform identifies original stories and uses advanced language models to filter out duplicate coverage. The service then generates concise, objective summaries, ensuring that readers get a quick and clear understanding of every significant event without information overload.
The primary mission of CYPRadar is to provide comprehensive, multi-language coverage of Cyprus news to keep both residents and international visitors well-informed. The platform covers key events across all major cities and districts, including Nicosia, Limassol, Larnaca, Paphos, and Famagusta. By offering all updates simultaneously in five languages — English, Russian, Greek, Ukrainian, and Turkish — CYPRadar bridges communication gaps and ensures that everyone has equal access to critical local information, from policy changes to community events.
Follow aviation developments, flight networks, and airport updates in Cyprus. Read about Larnaca and Paphos airports, new airline routes, flight delays or strikes, airspace regulations, and national travel connectivity.