Cyprus Airways in talks with Ryanair over end-of-year relaunch

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By admin August 26, 2014 14:49

Cyprus Airways in talks with Ryanair over end-of-year relaunch

Cyprus Airways may be relaunched under new ownership by the end of the year, according to the airline’s chairman, Tony Antoniou.

Antoniou also confirmed that potential investors in the carrier should submit their non-binding proposals by the end of the month, after which they will be reviewed on September 30th. A shortlist of suitable candidates will then be drafted.

“There is a big response despite people saying Cyprus Airways was worthless,” Antoniou said. “CY will exist in different form. We will have a carrier based in Cyprus that will fly to more destinations.”

In a press conference held in Dublin following a meeting with Antoniou, Ryanair CEO Michael O’Leary said his airline’s proposal would focus on Cyprus Airways retaining its current brand in addition to operating under a separate Air Operator’s Certificate (AOC) to Ryanair.

O’Leary said: “From Ryanair’s point of view there is a very exciting future for Cyprus Airways where I believe, with the help of Ryanair, we could put Cyprus Airways and Cyprus tourism back on a path of a very much renewed and rapid growth, with new routes, more flights and new jobs for pilots, cabin crew, and engineers here in Cyprus.”

Up to 22 other companies have submitted expressions of interest in acquiring some or all of the government’s 93.67% controlling stake in the airline.

admin
By admin August 26, 2014 14:49