The ferry connection between Cyprus and Greece cannot continue without renewed state subsidies, contract operator Scandro Holding Ltd’s chief executive Charalambos Manoli said on Friday.

Speaking to the Cyprus News Agency, Manoli said the long-term goal of creating a financially self-sustaining ferry service had yet to be achieved.

The ferry route was launched in 2022 after the European Commission gave the go ahead for a three-year state subsidy, which was later renewed for a further three years.

Manoli said 2027 could be the service’s final year unless passenger numbers improve. “There is not such a big demand, as in Greece, where people use the ships to travel between islands,” he explained.

The ferry runs from the end of May till early September.

“In June we have about 100 people per trip, in July 200 to 250 people, and the ship is only full in August.”

On Saturday, AF Marina will be sailing out of Limassol with 380 people aboard, which Manoli said was the highest number of passengers this season.

“You can’t run a sustainable line for three months. You have to make plans for the other nine months when the line in Cyprus is not running, so that the ship can be used somewhere else. Since there is no flexibility to carry cargo or anything else, this can’t continue,” Manoli said.

If however there is a will to continue subsidising the ferry line, then there are other considerations.

Manoli explained that currently ferries are exempt from EU tariffs for carbon dioxide emissions, however this will be lifted at the end of 2029, after which date “a fine will be issued for emissions meaning that the state subsidy will have to be higher.”

Added to this will be the increase in fuel prices, however Manoli expressed hope that “we will find a way to continue the service in 2027.”

Regarding demand in 2026, Manoli said it remained close to that of 2025.

In 2026, bookings were around 8,900 for passengers, 2,700 for vehicles and 371 for pets, while in 2025 8,238 passengers, 2,660 vehicles and 379 pets.

In the five years the ferry has been running, most people are aware of what to expect, however some people are still under the misconception that they booked on a cruise ship and not a passenger ferry, Manoli said.

The last trip for the AF Marina this year will be on September 1 when it sails out of Piraeus.