The European Commission has decided the maritime passenger route between Cyprus and Greece is a general economic interest service under current EU rules and can thus be supported with state/government funds.
After months of discussions with the EU’s DG Competition, that started in July 2019, the Shipping Deputy Ministry managed to secure approval for maximum state aid of €6 mln annually to reinstate the Cyprus-Greece ferry connection.
It was discontinued in 2000 after a sharp drop in the price of airline tickets, which made the line obsolete.
Based on the above, on 3 July 2020, the European Commission gave the green light for the establishment of a ferry link between Cyprus and Greece, paving the way for the launch of an open tendering process in the coming months.
The exact date of the launch of the ferry link will be determined by when the contracts are signed, however, the ultimate aim of the Shipping Deputy Ministry is to launch the route in May 2021.
Read more: Financial Mirror