Aviation industry holds national strategic importance for Cyprus, Transport Minister says

The aviation industry holds national strategic importance for Cyprus, Transport Minister, Alexis Vafeades has said, adding that the government remains steadfast in its commitment to supporting the growth of this vital industry.

In his address at the 16 January opening of the aircraft engine repair facility of the United Aerospace Maintenance Company (UAMCO) in Aradippou, in the Larnaca district, on behalf of Cyprus President, Nikos Christodoulides, Vafeades said that “this state-of-the-art aircraft engine overhaul facility” is the only approved aircraft engine overhaul maintenance organisation in Cyprus.

He noted that UAMCO “fully complies with the high standards of the European Aviation Safety Agency (EASA) and received its Maintenance Approval a few months ago, following a lengthy and thorough inspection by the Cyprus Department of Civil Aviation”.

“The achievements we celebrate today underscore the importance of partnerships between the private sector, government, and international stakeholders”, he said, adding that this facility benefits from the combined expertise of aircraft engineers, technicians, and strategic investors “who recognise the vast potential of the aviation industry in Cyprus”.

The Minister also said that Cyprus’ geographic location, at the crossroads of three continents, “offers unique opportunities to serve as an international hub for aviation activities”. “This strategic advantage aligns perfectly with the government’s vision to position Cyprus as a regional center of excellence in innovation, sustainable development, and high-value-added industries”, he added.

“The aviation industry holds national strategic importance for Cyprus, as its air transport services are vital to connecting with the rest of the world”, Vafeades said. A safe, secure, and efficient aviation sector is crucial for achieving this goal, he said.

“We look forward to seeing UAMCO grow and expand further in the coming years, contributing not only to the economy but also to the broader vision of sustainable and inclusive development”, he also said, adding that the government “remains steadfast in its commitment to supporting the growth of this vital industry”. This includes fostering public-private partnerships, promoting innovation, and enhancing Cyprus’ competitiveness on the global stage, he added. “Together, we can ensure that the aviation sector continues to climb to new heights, setting standards for safety, sustainability, and success”, he noted.

Papanastasiou welcomes presence of foreign companies in Cyprus

Minister of Energy, Commerce and Industry, Giorgos Papanastasiou, in his own address, said that the presence of foreign companies in Cyprus, “offers further motivation to our government to continue its efforts towards establishing Cyprus as an attractive international business and tech hub”. “It also represents another tangible vote of confidence to our country’s potential, which, of course, is much welcomed and appreciated as it adds value to our economy and positively impacts Cypriot society”, he added.

Papanastasiou expressed the belief that inaugurations “are not merely commemorative events” but that they can be milestones that shape collaborations amongst companies and nations, in a wide range of areas. “I am confident that today’s inauguration ceremony will prove, over the years to come, to be one such milestone, firmly placing Cyprus on the map of the global aviation maintenance industry”, he added. In fact, he noted, the Maintenance, Repair and Overhaul agreement that has been signed last November by GE Aerospace and UAMCO, “will undoubtedly go a long way towards that direction”. “Through this agreement, the needs of the customers of GE Aerospace for engine maintenance and repair in Europe, Middle East and Africa, will be accommodated by UAMCO”, he said.

He also said that the company’s strategic location in Cyprus, “coupled with its high expertise and standards of safety and quality, will contribute towards the reduction of turnaround time for engine maintenance and repairs”.

US Ambassador Fisher: UAMCO bringing Americans and Cypriots together

US Ambassador to Cyprus, Julie Fisher, said that it was “an honour” for her to be present at the ceremony, noting “this is an incredible moment in the commercial ties between USA and Cyprus”.

She said that she was “looking forward” to seeing how UAMCO was going to grow, and how it would bring Americans and Cypriots together, noting that it was “important” to both countries to see companies binding success in Cyprus.

The Ambassador also said that it is the kind of concrete result that the two countries have been working on in this relationship across so many spheres, “but it is wonderful to see this come together today”.

Large technological investment

John Savvides, CEO of the company, said that UAMCO was bringing one of the largest technology investments to Cyprus. He noted that the construction of the facilities began in January 2023 while that today it has signed an agreement with GE Aerospace to carry out maintenance of these engines, “thus putting Cyprus on the world map”.

He added that the company’s factory employs Cypriots and foreign nationals and that UAMCO’s customers were GE Aerospace and airlines from all over the world.

(Source: CNA)