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Wizz Air Accelerates Larnaca Expansion With New Athens And Madrid Routes

Wizz Air announced an expansion of its route network from Larnaca, adding new connections to Athens and Madrid while increasing frequencies on several existing routes. The move reflects steady passenger demand for travel between Cyprus and key European destinations and builds on the airline’s growing presence at Larnaca.

Enhanced Athens Service Driven By Demand

Service between Larnaca and Athens will resume in September 2026, initially operating 11 times per week. Frequency is scheduled to increase to 14 weekly flights, which allows for a double daily schedule. One-way fares start from €29.99, including all mandatory fees and one carry-on bag. The decision to reinstate and expand this route follows consistent demand, with Athens remaining a core short-haul connection for passengers traveling to and from Cyprus.

New Madrid Service Expands Spanish Footprint

Wizz Air will also launch a new direct route between Larnaca and Madrid. Flights are set to begin in September 2026 and will operate three times per week on Tuesdays, Thursdays and Saturdays. Fares start from €55.99 one-way. This addition builds on existing connections to Spain, including Barcelona, and strengthens the airline’s presence in that market.

Strengthening Cypriot Connectivity And Market Confidence

The expansion also includes increased frequencies to Barcelona, Thessaloniki and Yerevan, offering more flexibility for passengers. András Szabó said the relaunch of Athens and the addition of Madrid are part of efforts to expand route options and improve connectivity. Maria Kouroupi, Director of Aviation Development, Marketing and Communications at Hermes Airports, noted that increased frequencies support Cyprus’ connectivity. Kostas Koumis stated that new direct routes to Athens and Madrid are expected to support tourism flows, trade and economic activity.

Outlook

Higher frequencies and new routes are expected to support both inbound and outbound travel, particularly during the summer season. The updated network strengthens Larnaca’s role within Wizz Air’s regional operations and reflects stable demand across key European routes.

Robust Cyprus Construction Activity Bolsters Vassilico Cement’s 2025 Performance

Vassilico Cement Works Public Company Ltd reported a net profit of €35.52 million for 2025, supported by strong construction activity in Cyprus. Company profit reached €34.99 million, reflecting higher revenues and improved operating performance.

Domestic Market Growth Driven By Cyprus Construction

Group revenue rose to €152.75 million, while company revenue reached €152.66 million, up 11% year on year. Growth was driven by increased sales volumes in the domestic market, where construction activity remained strong throughout the year.

Enhanced Production Efficiency And Cost Management

Gross profit increased to €50.30 million at group level and €50.21 million at company level, compared with €42.49 million in 2024. The improvement reflects gains in production efficiency and cost control, supported by higher use of alternative fuels and improved electricity efficiency. These measures reduced unit costs while supporting environmental targets.

Executive Insights And Macroeconomic Outlook

Executive Chairman Antonis Antoniou said strong domestic demand supported production volumes, with the company maintaining focus on the local market and managing exports selectively. He added that favorable economic conditions in Cyprus contributed to performance, despite regulatory pressures in Europe and broader geopolitical uncertainty.

Navigating Energy And Regulatory Challenges

Future performance will be influenced by energy market volatility and European climate policy, including carbon pricing and the Carbon Border Adjustment Mechanism. Rising fuel and electricity costs continue to affect energy-intensive industries.

The company is expanding its renewable energy capacity, with a photovoltaic park reaching 16MW and plans for an additional 8MW, subject to grid connection. The investments aim to improve cost stability and energy efficiency.

Shareholder Returns And Strategic Investments

The board approved an interim dividend of €0.15 per share, totaling €10.79 million, on September 25, 2025. A final dividend of €16.55 million, or €0.23 per share, will be proposed. Combined, total dividends amount to €27.34 million, or €0.38 per share.

Management said the company will continue focusing on efficiency, cost control and sustainability as it navigates energy market pressures and regulatory requirements.

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