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des­ti­na­tion. Na­tional car­rier Cyprus Air­ways was shut down in Jan­uary 2015 af­ter break­ing EU state aid rules and un­able to re­pay the mil­lions in cash it had re­ceived. Fi­nance Min­is­ter Har­ris Ge­or­giades said sign­ing the deal with S7 would cre­ate jobs and bol­ster flight con­nec­tiv­ity to Cyprus, which re­turned to growth in 2015 af­ter nearly four years of re­ces­sion and a 10-bil­lion-euro in­ter­na­tional bailout. The is­land recorded its best ever tourist ar­rivals fig­ure for the month of May, with vis­i­tors from Rus­sia, its sec­ond largest mar­ket af­ter Bri­tain, jump­ing more than 50 per­cent to 107,000, com­pared to the same month of last year. Char­lie Air­lines, which has ap­plied for an air op­er­a­tor cer­tifi­cate, ex­pects to launch flights with two Air­bus A319 planes from Cyprus by the end of 2016 with the UK, Greece and Rus­sia its main des­ti­na­tions. The air­line has signed a 10-year li­cens­ing deal – the logo re­mains the prop­erty of the Cypriot state – with an op­tion to renew it for an­other five years. S7 Air­lines is Rus­sia’s largest do­mes­tic car­rier and trans­ported 10.6 mil­lion pas­sen­gers last year.

Greece will sell 625 mil­lion eu­ros of three-month trea­sury bills on Wed­nes­day to re­fi­nance a ma­tur­ing is­sue, debt agency PDMA said yes­ter­day. Athens suc­cess­fully rolled over six­month T-bills this week, with the pa­per priced to yield 2.97 per­cent. The set­tle­ment date of the new bills will be next Fri­day.

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