The Cyprus Finance Ministry and Charlie Airlines, a subsidiary of Russian Air carrier S7 signed on Friday an 10-year agreement for the usage of defunct Cyprus Airways trademarks.
Under the agreement, Charlie Airlines, which has filed an application to receive a local Air Operator Certificate (AOC), will acquire the right to use the Cyprus Airways trademarks for ten years for €2.04 million. Under the contract, the agreement can be renewed for an additional five years.
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