The airline has received both its air transport licence and aviation licence but has acquired just one plane for Cyprus so far.
The new Cypriot airline has it head office in Larnaca and has already registered an Airbus A319 with the necessary authorities.
The airline said that phase one will begin in June using an Airbus 319 operating scheduled and charter flights to four short-haul destinations. These destinations will be announced after Easter.
Heraklion in Crete is being looked as a possible destination.
In October this year, they will announce their autumn schedule. Phase two will begin in March next year and will receive an additional Airbus 319.
Previously called Charlie Airways before it acquired the name of defunct national carrier ‘Cyprus Airways’ it has announced that it has no plans to expand on its flight schedule.
A subsidiary company of S7, the airline had previously signed a ten-year deal to use the commercial emblem and logoof Cyprus Airways in exchange for €2.04 million.
Cyprus Airways, a flag carrier airline, ceased operations in January 2015 after going bankrupt when unable to pay back millions in state aid the EU said was illegal.