Ok, this was fun!
Second run was better, the big enemy surface group was a bit further off. Sadly, it spawned in the vicinity of my smaller surface group, enveloping it with its SAMs, thus making it impossible to safeguard the smaller surface group from missile attack. The few aircraft in Cyprus were also not able to stop air attacks against the islands installations and I could not get my carrier aircraft over the island in time, since I had to manuever around the SAM envelope of the big enemy surface group.
RED thus managed to pull of a minimum victory after annihilating my smaller surface group, sinking 3 of my ships.
I did not give up and launched an all-out counterstrike. Repeated air strikes killed the enemy surface group and then one by one the enemy bases and supporting units died. Total victory was inevitable.