Audit report reveals inefficiencies in Cyprus-Greece ferry connection

The Audit Office of Cyprus, in its report EE-EY 15/2026, has identified significant operational distortions regarding the ferry service between Cyprus and Greece. The service provider, Scandro Holding Ltd, performs 22 round-trip voyages annually during the summer, receiving a state subsidy of 5.47 million euros per year plus 6% of ticket sales to cover operating costs. Despite high public demand, the average passenger occupancy rate from 2022 to 2025 remained at 49%, while the ship's capacity is 350 passengers. The audit highlighted major discrepancies in the booking system, noting that while the system often showed no availability, actual occupancy on those specific voyages averaged 69% for passengers and only 18% for vehicles. The Auditor General, Andreas Papakonstantinou, suggested that current incentive structures might discourage the company from maximizing occupancy. The report recommends an urgent reassessment of the scheme to ensure better use of public funds and improved service for citizens.