Russia’s S7 air group sets up new airline company in Cyprus

S7 air group has established a new airline company in Cyprus, Vladislav Filev, a co-owner of S7 said Wednesday. The name of the new airline is Charlie Airlines, he said. “In England they called Cypriots ‘Charlie’," Filev said. The new company will make flights from Cyprus to a number of European countries. The flights may start already this year. The airline will use 2 A319 aircraft from S7 fleet, Filev said. According to him, Russian shareholders will own about 40% in the new company. He said that 60% will be held by foreign investors but declined to name them. Filev did not say whether he will own a stake in the new airline directly or via some of the companies he controls. He added that the new company will make it possible for S7 to operate in Europe within the zone of EASA. <br/>