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Nearchi Investment Acquires Orion Airways

Nearchi Investment announced the acquisition of a 100 percent of Cyprus-based airline Fly Orion Airways, after four months of negotiations.

The investment company came with a commitment to spend at least EUR30 million over the next 30 months and has a strategy in place to add diversification to the market in Cyprus and to open up other jurisdictions to Cyprus from Europe and beyond.

The acquisition has been completed with the support of the existing owners who have supported Orion through the pre-startup phase, and now see Nearchi’s financial and management strength as a critical success factor as Orion prepares for full operations.