TUS Airways Takes Flight to New Horizons with The Holiday Lines Group As A Strategic Investor That Strengthens Leadership In Mediterranean Aviation
11 January 2024
TUS Airways is proud to announce a multi-million dollar transformative investment agreement signed with the Holiday Lines Group, the owner of Greek airline Bluebird Airways, marking a significant milestone in our journey.
Upon completion of the agreement, the Holiday Lines Group, as well as existing shareholders, Mr Ken Woolley and Global Knafaim Leasing Ltd, will each hold equal shares in TUS Airways. Forging a robust strategic partnership that infuses TUS Airways with the visionary commitment of three influential aviation stakeholders, this alliance promises a wealth of benefits from unparalleled commercial opportunities across Cyprus, Europe and the Eastern Mediterranean, and also synergies that will elevate our business to unprecedented heights.
The Holiday Lines Group, owned by Ami Cohen & Arnon Englander, is one of the largest groups in the field of tourism & leisure in the region with the group marketing holiday packages across the Mediterranean and Europe. The group includes the Greek airline, Bluebird Airways, based in Heraklion, as well as cutting-edge technology companies such as a market-leading online travel agency.
Their strategic investment propels TUS Airways into an era of unrivalled strength & growth.
In addition, this partnership heralds a positive impact for Cyprus’ aviation and tourism industries, while fostering economic & investment growth and showcasing the island as an even more attractive destination. The collaboration aligns with national interests, positioning Cyprus as a hub for aviation excellence and a gateway to unparalleled travel experiences.
Furthermore, TUS Airways anticipates a strengthened sales presence in Cyprus, Greece, Israel and across Europe; also unlocking new opportunities to build bespoke packaged holiday solutions for our valued customers. Pending regulatory approval, TUS Airways and Bluebird Airways will be able to collaborate and offer customers an expanded choice, outstanding service and an enhanced network with improved connectivity across the region.
Welcoming this important milestone, Ahmed Aly, CEO TUS Airways, stated: “This partnership with the Holiday Lines group stands as a gamechanger in Mediterranean aviation. The announcement secures a bright future for TUS Airways placing us in a unique position within a robust and formidable aviation family. By welcoming Holiday Lines Group as new investors, we are gaining a strategic partner with innovative businesses that closely complement our commercial activities and with whom we share a vision for success. Our talented and committed team has been the backbone of our success, and this exciting venture ensures a brighter future for both our employees and TUS Airways as a whole.”
Background Information Relating To Current Shareholders of TUS Airways:
Global Wings Leasing Ltd is part of the Wings Group, operating in the aircraft leasing sector and part of the aviation holdings group, Knafaim. The company owns a stake in the Cypriot airline, TUS Airways, which will be on the basis of an equal share with the other two shareholders on completion of the agreement with the Holiday Lines Group.
Mr. Kenneth Woolley is a Cypriot-American national and became the founding shareholder of TUS Airways in 2015. His support has been instrumental throughout the airline’s history and in facing the unique challenges to have faced global aviation in recent years. Mr. Woolley is a renowned entrepreneur and has successfully founded companies spanning a wide array of industries including, but not limited to, real estate, technology, storage facilities, food manufacturing and, of course, aviation, including majority ownership in the leading US carrier, Eastern Airlines.
Media Contact at TUS Airways:
Chief Commercial Officer
E-mail: [email protected]