TUS Airways, a Cypriot-based carrier, has signed a significant investment agreement with the Holiday Lines Group. The Holiday Lines Group, along with existing shareholders Ken Woolley and Global Knafaim Leasing, will hold each hold equal shares in TUS Airways upon completion of the agreement.
The Holiday Lines Group markets holiday packages across the Mediterranean and Europe, and owns Greek airline Bluebird Airways and an online travel agency.
“The announcement secures a bright future for TUS Airways placing us in a unique position within a robust and formidable aviation family,” said TUS Airways CEO Ahmed Aly. “By welcoming Holiday Lines Group as new investors, we are gaining a strategic partner with innovative businesses that closely complement our commercial activities and with whom we share a vision for success.”
TUS Airways anticipates a strengthened sales presence in Cyprus, Greece, Israel and across Europe. Pending regulatory approval, TUS Airways and Bluebird Airways will also be able to collaborate and expand on offers for customers.