Libyan carrier Fly Oya is establishing a corporate presence in Greece, signaling a potential expansion into one of Europe’s most tourism-dependent aviation markets and laying the groundwork for operations ranging from scheduled passenger flights to helicopters and specialized air services.
Fly Oya Greece was incorporated with initial share capital of €25,000. The new company marks the formal entry into Greece of the Fly Oya name, which has emerged in Libya’s aviation sector in recent years. The Greek company is controlled by Osama Mohammed H. Aboukraza, who contributed €16,750 and holds 1,675 shares, giving him a 67% stake. Andreas Kaiafas invested €8,250 for 825 shares and owns the remaining 33%.
Fly Oya is a privately owned Libyan airline founded in 2018 and based in Tripoli. The airline says it began flight operations in 2022, transporting passengers and cargo.
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The incorporation documents for Fly Oya Greece point to ambitions extending well beyond conventional passenger services. Its principal activity is listed as passenger air transportation, while its corporate purposes allow it to operate scheduled and charter flights using both airplanes and helicopters, transport cargo and provide VIP, executive and business-aviation services.
The company is also authorized under its articles to pursue commercial helicopter operations, subject to obtaining an Air Operator Certificate and other required approvals. Those services could include scheduled and nonscheduled flights, with the documents specifically referring to regional and island connections.
That could give the company a broad potential market in Greece, where hundreds of inhabited islands and a tourism industry heavily reliant on air travel create demand for connections between the mainland, islands and international destinations. The incorporation itself, however, doesn’t mean that Fly Oya Greece has obtained regulatory approval to begin such flights.
The company’s stated scope also covers more specialized aviation activities. These include medical evacuations and air-ambulance services, search-and-rescue operations and aerial firefighting. Its articles allow aircraft and helicopters to be made available for firefighting operations for the Greek government as well as other public and private-sector organizations. Fly Oya Greece could also enter aircraft maintenance and technical support, aircraft sales and leasing, and training for pilots and technical personnel. Its corporate purposes provide for the operation of hangars, helicopter bases, heliports and other general-aviation facilities.
