Zela Jet And Fly Cycladic Forge Exclusive Partnership To Redefine Private Aviation In Greece

by THEFUTURE.TEAM

February 12, 2026

Introduction: A New Era In Private Travel

The private aviation sector in Greece is poised for a significant upgrade as Zela Jet, part of the respected Zela Aviation Group and led by Cypriot entrepreneur Andreas Christodoulides, partners with Fly Cycladic, one of the nation’s most dynamic charter airlines. This strategic alliance is designed to offer a seamless travel experience for high-net-worth individuals and business leaders alike.

Streamlined Access Across Greek Destinations

The collaboration specifically targets routes that were previously reliant on ferries, helicopters, or commercial flights with lengthy layovers. Under this agreement, Zela Jet will serve as the exclusive General Sales Agent (GSA) for Fly Cycladic in Cyprus, managing private flights from key Greek airports to popular destinations such as Athens, Mykonos, Santorini, Paros, Milos, Naxos, Astypalaia, Syros, and Crete. For discerning travelers, this partnership offers unmatched flexibility, comfort, and efficiency.

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Enhanced Service And Market Penetration

Christodoulides expressed strong confidence in the venture, highlighting Fly Cycladic’s reputation for upholding rigorous quality and safety standards. He emphasized that Zela Jet’s commitment is to promote and support these premium services in Cyprus with professionalism and consistency. This initiative is expected to unlock new opportunities for seasonal and year-round travel, ensuring a reliable, high-caliber experience for every passenger.

Innovative Fleet And Cutting-Edge Technology

Fly Cycladic, founded in 2022, focuses on inter-island connectivity and operates with a fleet of three state-of-the-art single-engine high-wing turboprop aircraft, the Cessna Grand Caravan 208B EX. These planes, notable for their large windows and natural light design, not only deliver stunning views of the Aegean Sea but also incorporate the latest technological advancements while adhering to international environmental standards. This modern fleet aligns perfectly with the shift towards more sustainable aviation.

A Vision For The Future Of Aviation

Representing Fly Cycladic, Andreas Sotiropoulos outlined the company’s ambition to provide a balanced combination of experience, safety, flexibility, and convenience. The partnership, effective February 1, 2026, is poised to meet the needs of both modern business travellers and those seeking an elevated travel experience. By bridging functional connectivity with premium service, Zela Jet and Fly Cycladic are setting a new benchmark in private aviation.

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Cyprus Government Surplus Rises To €1.61 Billion In First Nine Months Of 2026

by THEFUTURE.TEAM

November 5, 2026

Cyprus recorded a general government surplus of €1.61 billion in the first nine months of 2026, equal to 4.0% of gross domestic product, as revenue growth outpaced the rise in public spending. Higher receipts from income taxes, social contributions and value-added tax (VAT) drove the improvement, while lower capital expenditure helped restrain spending.

Preliminary figures released Tuesday by the Statistical Service of Cyprus show the surplus rose to €1.17 billion, or 3.0% of GDP, up from € 442.1 million in the same period of 2025.

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Total government revenue increased 6.5% to €12.09 billion, while expenditure rose 2.9% to €10.48 billion.

Key Fiscal Measure	January–September 2025	January–September 2026
Total revenue	€11,353.9 million	€12,091.8 million
Total expenditure	€10,186.2 million	€10,482.1 million
Government surplus	€1,167.6 million	€1,609.7 million
Surplus as a share of GDP	3.0%	4.0%

Income Taxes And VAT Lead Revenue Growth

Taxes on income and wealth made the largest contribution to the increase in revenue. Receipts in this category climbed by €442.2 million, or 15.3%, to €3.34 billion, compared with €2.89 billion a year earlier.

Social contributions rose by €235 million, or 6.6%, to €3.78 billion. Taxes on production and imports increased by €251.5 million, or 7.2%, reaching €3.77 billion.

Net VAT receipts, after refunds, totalled €2.64 billion, up €293.1 million, or 12.5%, from €2.35 billion in the first nine months of 2025.

Some Revenue Streams Decline

Not all revenue categories moved higher. Capital transfers fell by €74.6 million to €96.7 million, while current transfers declined by €71.6 million, or 20.5%, to €278.2 million.

Revenue from services slipped 1.0% to €743.5 million. Interest and dividend receipts dropped by €37 million, or 28.6%, to €92.4 million.

Social Benefits And Personnel Costs Increase

On the expenditure side, social benefits rose by €199.6 million, or 4.9%, to €4.27 billion. Compensation of employees—which includes imputed social contributions and public-sector pensions—increased by €108.3 million, or 3.8%, to €2.99 billion.

Intermediate consumption, covering goods and services used in the delivery of public services, rose by €114.3 million, or 11.0%, to €1.16 billion. Interest payments increased by €8.7 million, or 2.6%, to €340.7 million. Current transfers were up €68.7 million, or 10.6%, at €714.7 million.

Lower Capital Spending Limits Expenditure Growth

The overall increase in spending was tempered by a decline in capital expenditure. Capital-account spending fell by €189.9 million, or 16.9%, to €936.2 million from €1.13 billion in the same period last year.

Investment in fixed capital declined by €94.1 million, or 12.1%, to €686.4 million. Other capital transfers fell by €95.8 million, or 27.7%, to €249.8 million. Subsidies also decreased, dropping by €13.9 million, or 15.5%, to €75.8 million.

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