Russia's S7 Airlines to Launch New Cypriot Carrier

Denis Grishkin / VedomostiVladislav Filev

The co-owners of Russian carrier S7 Airlines are set to launch a new airline in Cyprus that will operate routes within Europe, the RBC news website reported Wednesday, citing company shareholder Vladislav Filyov.

According to Filyov, the new company will be called Charlie Airlines, and will begin operations by the end of 2016, the Interfax news agency reported Wednesday.

“Cypriots in England are called 'Charlie' — the airline will be called Charlie Airline,” Filyov said.

The company initially planned to start operations this spring, but had to postpone the launch. “We underestimated the complexity of the organization, in particular the strict approach of European aviation authorities,” Filyov was quoted by Interfax as saying.

Initially, Charlie Airlines will fly two A319, transferred from the S7 fleet, Filyov said, RBC reported.

The air carrier will be set up by S7 co-owners together with Cypriot investors, whose names Filyov refused to reveal.

S7 shareholders will account for 40 percent, Filyov said.

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