Speech by the Minister of Finance of the Republic of Cyprus, Mr Makis Keravnos, at the inauguration of a new hangar of Bird Aviation

It is with great pleasure that I am here today for the inauguration of Bird Aviation’s new hangar, an important investment project which serves as a living example of the confidence shown by investors in the prospects of our country.

Bird Aviation is a Cypriot company, which for the last ten years has been operating in the Aircraft Repair & Maintenance sector at its facilities at the old Larnaka International Airport.

Since the establishment of Bird Aviation hangar in 2016, the company has invested significant amounts in modernising the old Cyprus Airways Base in order to carry out its specialised operations. The new hangar, that is inaugurated today, represents an investment which exceeds 2.5 million euros, reconfirming Bird Aviation’s commitment to continuous expansion in Cyprus. Today, Bird Aviation employs more than 250 employees, the majority of whom are Cypriots, while the company’s customers are some of the most important airlines in Europe, as well as the wider region.

Ladies and Gentlemen,

Economic development cannot rely solely on the state. Growth stems from the combination of government policy and private initiative, where the state creates the appropriate framework, but growth is driven by the market, investments, and innovation.

Foreign direct investments are not merely capital flows; they are key drivers for development, innovation, and collaboration. They contribute to the creation of quality jobs, the transfer of know-how, and the enhancement of our economy’s competitiveness. It is for this reason that the government is actively promoting various measures to modernise the existing framework and facilitate investments.

Bird Aviation’s investment is a notable investment initiative that generates strong synergies with the vital tourism sector, creating multiple benefits for the country, and supporting the government’s vision to establishe Cyprus as a Regional Aviation Hub.

The Aviation Sector is crucial to our economy, since it contributes to the development to other basic sectors of the economy of Cyprus and supports the Cyprus Connectivity. So, we welcome the Progressive Investments Parth of Bird Aviation, and we acknowledge that it really boosts competitiveness of Cypriot Economy.

By concluding, I would like to congratulate Bird Aviation for its successful growth path as an aircraft maintenance, repair, and overhaul service provider in the region, and wish you continued success in the future.

Thank you.  

(MS/LY)

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