Ryanair confirms interest in Cyprus Airways

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By admin August 27, 2014 20:25

Ryanair confirms interest in Cyprus Airways

Ryanair has stated it is planning to offer to buy Cyprus Airways, and may make a firm offer early next year subject to approval by the Cypriot government.

Ryanair’s Chief Marketing Officer Kenny Jacobs said: “Ryanair is planning to make a non-binding offer on Friday as a result of a positive meeting last week.” Jacobs also said a period of due diligence would be required before a binding offer was possible.
The airline’s decision follows a meeting between Ryanair Chief Executive Michael O’Leary last Friday with the Cypriot government, which owns more than 90% of Cyprus Airways.

Ryanair was among almost 20 companies that have submitted non-binding expressions of interest in the airline.

Ryanair has previously only ever taken over one other airline, former KLM LCC subsidiary Buzz, which was absorbed into the Ryanair brand.

admin
By admin August 27, 2014 20:25