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Cyprus Airports Set Record Passenger Traffic In 2024

Passenger traffic at Cyprus’ Larnaca and Paphos airports reached an all-time high in 2024, according to the Ministry of Transport, Communications, and Works. The record-breaking year marked a milestone in the island’s aviation history, highlighting Cyprus as a robust hub for tourism and business travel.

Key markets driving this achievement included the United Kingdom, Greece, Israel, Poland, and Germany, collectively accounting for 64% of the 7.8 million passengers who travelled through the airports. Among the top destinations were London and Athens, each attracting around 1.4 million passengers, followed by Tel Aviv with approximately 1 million travelers, and Thessaloniki, Manchester, and Vienna.

In a press release, the Ministry highlighted that passenger traffic for January through December 2024 surpassed all previous records, with a 5.6% growth compared to 2023 and a 9.1% increase over pre-pandemic levels in 2019. These figures underscore the sector’s remarkable recovery and Cyprus’ rising appeal as a destination.

“Despite economic pressures and geopolitical uncertainties, Cyprus has demonstrated resilience in tourism,” the Ministry stated. Travel patterns showed an encouraging trend, with demand extending beyond the traditional summer months. Passenger numbers for January to March and September to December rose by over 7% compared to the previous year.

The busiest travel months, May to October, accounted for 67% of total traffic, with 8.2 million passengers passing through the airports. August set the record as the busiest month, with Larnaca Airport seeing its peak daily traffic—21,189 passengers—on August 26. March stood out as the fastest-growing month, with a 12% year-on-year increase in passenger numbers.

December also closed the year on a high note, with 654,760 passengers passing through Larnaca and Paphos airports—a 10.5% rise compared to December 2023. While Larnaca saw a 15.06% increase, Paphos experienced a slight decline of 0.74%. Christmas Day marked the quietest moment of the year, with just 341 passengers at Paphos Airport.

Aircraft traffic mirrored the growth trend, with 5,732 flights recorded in December—a 4.12% increase over 2023.

The Ministry credited its success to incentive schemes introduced in 2012 in partnership with Hermes Airports. Backed by €240 million in targeted investments, these initiatives have opened new markets, boosted connectivity, and enhanced Cyprus’ competitive edge in the civil aviation sector.

Transport Minister Alexis Vafeades reaffirmed the government’s commitment to further strengthening the industry. “We will continue promoting initiatives that enhance resilience and improve connectivity, ensuring Cyprus remains a top choice for travelers worldwide,” he said.

This record-breaking year for Cyprus’ airports underscores the island’s enduring appeal and the effectiveness of long-term strategic investments in aviation and tourism.

Reid Hoffman Leaves Microsoft Board To Focus On Manus AI

Former Microsoft board member Reid Hoffman has stepped down from the company’s board, marking a return to startup building and investment activities. Hoffman joined Microsoft’s board following the company’s $26.2 billion acquisition of LinkedIn in 2016.

Strategic Investment And Board Leadership

During his time on the board, Hoffman was involved in a period of significant investment in artificial intelligence, including Microsoft’s first $1 billion investment in OpenAI in 2019. As an early investor in OpenAI, Hoffman also served on the organisation’s board before stepping down in 2023 to avoid potential conflicts of interest.

Acqui-Hire Deals And AI Synergies

Hoffman’s board tenure coincided with significant strategic moves, including Microsoft’s $650 million acqui-hire deal involving his AI startup, Inflection AI. This arrangement, which saw Microsoft adding Inflection co-founder Mustafa Suleyman to its ranks, highlights the increasingly blurred lines between corporate reinvention and startup innovation in the tech landscape.

Return to Founder Mode With Manus AI

In a recent conversation on his “Possible” podcast with Microsoft CEO Satya Nadella, Hoffman revealed his excitement to return to “founder mode” with his latest venture, Manus. This AI-driven drug discovery startup has already raised over $50 million through early seed rounds, marking it as a promising player in the competitive field of AI in healthcare.

Leadership Under Visionary Guidance

Hoffman serves as co-founder and chair of Manus AI. Day-to-day leadership is led by Dr. Siddhartha Mukherjee, a physician, biologist and Pulitzer Prize-winning author of The Emperor of All Maladies: A Biography of Cancer. The company is focused on applying artificial intelligence to chemistry and drug discovery, including research related to cancer treatment. Hoffman’s departure from Microsoft’s board comes as he increases his focus on new ventures in artificial intelligence and healthcare.

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