The Cyprus-Greece passenger ferry could cease operating after 2027 unless its state subsidy is renewed, according to Scandro Holding Ltd. The operator says the three-month sailing season and limited demand outside August have prevented the route from becoming financially sustainable.
The ferry connection began in 2022 following European Commission approval of state support for an initial three years. The subsidy was subsequently extended for another three-year period.
Limited demand outside August
Scandro Holding Chief Executive Officer Charalambos Manolis told the Cyprus News Agency that expectations of creating a self-sustaining service had not been met.
“We did not manage to make the route viable because demand is not as high as in Greece, where people use ferries to travel to the islands,” he said.
The service operates from late May until early September. According to Manolis, the ferry carries around 100 passengers per sailing in June and between 200 and 250 in July, while it reaches full capacity only in August.
The AF Marina is due to depart Limassol port on Saturday with 380 passengers, its highest number of the 2026 season.
“You cannot have a viable route with just three months of operation,” Manolis said. He added that the vessel would need to operate elsewhere during the remaining nine months, but its inability to transport freight or serve other purposes limits that flexibility.
Fuel and emissions costs add pressure
Manolis said that any new tender for the service would need to account for changing operating conditions.
The temporary exemption for passenger ferries from European Union carbon emissions charges expires at the end of 2029. He said this would increase costs and would need to be reflected in any future state subsidy.
Rising fuel prices are also discouraging potential bidders. Manolis suggested that any future tender should include a mechanism allowing the subsidy to be adjusted when fuel prices rise.
Fuel costs are the company’s main concern for next year, although Manolis expressed hope that the operator would find a way to continue the service in 2027, as it did following the rise in prices after Russia’s invasion of Ukraine.
Passenger numbers rise slightly
Bookings for the 2026 season include approximately 8,900 passengers, 2,700 vehicles and 371 pets. In 2025, the service recorded 8,238 passengers, 2,660 vehicles and 379 pets.
Manolis said public understanding of the ferry’s role has improved over its five years of operation. However, some passengers still expect a cruise ship rather than a passenger and vehicle ferry.
The AF Marina’s final sailing of the season is scheduled to depart from Piraeus on 1 September.
Source: CNA.
