The management of Aviation Capital Ventures PLC, “ACV”, is pleased to announce that ACV recently has acquired a 49% stake in Fly Orion Airways Ltd from Aviation Ventures AG.
Fly Orion Airways Ltd is the operational company for Orion Airways, the new airline carrier that will operate its flights from Larnaca Airport on Cyprus having the aim at starting the first flights on the Larnaca – Athens by mid or end of March 2017. The aim is to have a second route, Larnaca – London, introduced shortly thereafter.
The acquistion has been initiated as the first step to change the old ownership structure in Fly Orion Airways Ltd that was triggered by the wish of the owners of Aviation Ventures AG to enable fund raising operations for the Group. Aviation Capital Ventures PLC has simultaneously secured an option to acquire the remaining 51% of the shares in Fly Orion Airways Ltd from IFH Capital Ltd, the founder of Fly Orion Airways Ltd.