Libyan Airline Fly Oya Formed Greek Subsidiary
The Tripoli-based carrier has expanded into Greece with a newly incorporated subsidiary called Fly Oya Greece.
Updated on Sept. 22, 2026 in Business Travel
Live Poll
Do you believe new foreign aviation companies in your area will provide better service?
Libyan airline Fly Oya has established a new subsidiary, Fly Oya Greece, to broaden its international operations. The new entity was incorporated with an initial share capital of €25,000.
Why it matters
This move marks a strategic expansion for the private Libyan carrier, which only began flight operations in 2022. The subsidiary is set to provide a variety of aviation services across the region.
Fly Oya Greece launched with €25,000 in share capital, with Osama Mohammed H. Aboukraza contributing €16,750 for a 67% stake and Andreas Kaiafas contributing €8,250 for a 33% stake. The firm is capitalized to manage passenger and medical flights.
The players
Fly Oya
This privately owned Libyan airline is headquartered in Tripoli and has been operating flights since 2022.
Osama Mohammed H. Aboukraza
He is the majority shareholder of the new subsidiary, holding a 67% stake in the Greek venture.
Andreas Kaiafas
He holds a 33% stake in Fly Oya Greece and serves as a primary investor in the new subsidiary.
The details
The new Greek company plans to offer scheduled and charter passenger flights, as well as helicopter operations and medical evacuations. It is also considering proposals to provide aerial firefighting services to the Greek government.
Timeline
Fly Oya was founded in Libya in 2018.
The airline began flight operations in 2022.
The subsidiary Fly Oya Greece was incorporated in September 2026.
Travel Outlook
The incorporation of Fly Oya Greece follows a pattern set by other regional carriers attempting to diversify operations through European subsidiaries. This reflects a broader trend of North African airlines establishing regulatory footprints to enhance cross-border market connectivity.
Travelers and clients in the region should monitor for upcoming announcements regarding the subsidiary’s official flight schedules and service availability. Potential medical and charter clients may soon see new options for specialized air transport services as the firm begins operations.
The takeaway
The entry of a Libyan-backed entity into the Greek aviation market underscores the importance of regional partnerships in the global flight industry. Business travelers and stakeholders should track how the subsidiary navigates local Greek aviation regulations to offer its diverse range of services.
Further reading
For more information on the evolving landscape of international corporate expansion, visit Business Travel.
Source note: This article includes information reported by Dnews.
Live Poll
Do you believe new foreign aviation companies in your area will provide better service?
