Charlie Airlines, the subsidiary of Russia’s S7 airline, acquired the licence to use Cyprus Airways’ brand name, logo, and trademark over the next 10 years for flights from and to Cyprus, Cyprus Business Mail reports.

Cyprus Airways ceased flying in January 2015.

Under the licencing agreement, signed at the finance ministry on Friday, the state will remain the owner of the Cyprus Airways brand name, logo and trademark, the finance ministry’s privatisation unit said.

All standards will be audited on a quarterly basis with the exception of one, which will be audited twice a year, the privatisations unit said.
The flight schedule is expected to be launched towards the end of the year, initially to three destinations in the UK, Greece, and Russia, using two Airbus A319 aircraft.

The government acquired the Cyprus Airways logo, brand name and trademark in December 2014, a month before the loss-making state-run airline run out of money.

Russia’s S7 airline is part of the One World airline alliance.

Charlie was successful in outbidding Greece’s Aegean Airlines in the tender, according to media reports.