Shareholders, Intercontinental Aviation Enterprise (IAE) and MA Group Announce Strategic Share-Exchange of CAFA and FlyIAA
Dubai, UAE – November 18, 2025:
At the Dubai Airshow 2025, Intercontinental Aviation Enterprise FZ-LLC (IAE), owner and operator of Intercontinental Aviation Academy (FlyIAA Global), and MA Group, owner and operator of CAFA – Cyprus Airways Flying Academy, announced the signing of a transformative Memorandum of Understanding (MoU). The agreement establishes a strategic board-level partnership supported by a mutual share-exchange between the two groups.
This milestone grants IAE a new operational base in Europe, while positioning CAFA as a key member of the FlyIAA Global training network. The alliance represents a significant step forward for the aviation training industry, both in Cyprus and across the wider region.
Under the MoU, a Joint Integration Board will be formed, bringing together representatives from both IAE and MA Group. The board will guide brand integration and oversee a major expansion phase, including fleet modernization, new training programs, and the development of additional satellite bases.
Wissam Mehyou, CEO of IAE, commented:
“This is more than a partnership; it is a milestone that reshapes our global footprint. Cyprus will become one of the most important hubs in our network, powered by a new fleet, new programs, and a strategic vision aligned with FlyIAA Global’s future.”
Mikhael Alenkin, Owner of MA Group, added:
“By joining forces with IAE and FlyIAA Global, CAFA takes a decisive step toward becoming a leading European aviation academy. This partnership brings new strength, clear direction, and a global horizon.”
About Intercontinental Aviation Enterprise (IAE)
IAE is a UAE-based aviation investment and training group and the owner of Intercontinental Aviation Academy (FlyIAA Global), with operations spanning the Middle East, Europe, and Asia.
About CAFA – Cyprus Airways Flying Academy
CAFA is an EASA-approved ATO based at Larnaca Airport, providing flight training programs to European and international students.
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