Posts by tag: Ryanair

Local News November 21, 2014

Aegean may go it alone, without CY

By George Psyllides

AEGEAN Airlines said yesterday it was interested in developing its operations on the island, but it was not yet clear whether the process involved acquiring the island’s ailing carrier Cyprus Airways (CY).

Vice chairman Eftihios Vasilakis said CY’s main asset was the brand. Conditions would show if Aegean’s development in Cyprus would take place independently or through co-operation.

“I think the Cypriot state has realised it can no longer support the company because of the cost…

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Aegean may go it alone, without CY
Local News November 12, 2014

‘We can’t buy CY any more time’

By Angelos Anastasiou

NEITHER Ryanair nor Aegean is ready to make a meaningful offer for Cyprus Airways (CY) and their terms are not in the public interest, Finance Minister Harris Georgiades said yesterday as the government was preparing for the worst-case scenario, he said.

Georgiades, along with Communications Minister Marios Demetriades, was invited to a joint session of the House finance and watchdog committees that ran late into the afternoon, with little to show by way of constructive discussion.

Georgiades…

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‘We can’t buy CY any more time’
Local News November 4, 2014

Ryanair ‘a step closer to taking over CY

Ryanair has said it is one step closer to taking over Cyprus Airways (CY) after getting through to the second round of bidding for the ailing flag carrier at the weekend, the Irish Times reported on Tuesday.

Quoting the airline’s incoming finance chief Neil Sorahan, the newspaper said Ryanair was informally told on Friday that it was on a shortlist, pushing it through to the second round of the process.

Sorahan however said it was “still a long shot” and that Aegean…

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Ryanair ‘a step closer to taking over CY
Business Local News November 1, 2014

CY staff protest as state talks to bidders

By Angelos Anastasiou

CYPRUS Airways (CY) employees took to the streets yesterday in fear for their future, just as the technical committee for the state-owned airline met with representatives from the two airlines – Aegean Airlines and Ryanair – interested in acquiring the flailing national carrier.

The protesters gathered outside the offices of KPMG, consultants to CY and members of the technical committee, early in the morning, before moving to the Finance ministry, where the committee met with Ryanair reps.

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CY staff protest as state talks to bidders

Ryanair sees plenty more growth within Europe

By Conor Humphries

Ryanair’s bid to become one of the world’s biggest airlines will focus on higher-frequency routes and more domestic flights in core European markets rather than venturing further afield, its chief commercial officer said in an interview with Reuters.

Already Europe’s largest airline by passenger numbers, selling over 80 million tickets last year, Ryanair is targeting 50 percent growth in passengers by 2019 and has placed orders for 380 new Boeing planes.

Most growth will come from increasing capacity in core…

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Ryanair sees plenty more growth within Europe
Local News October 9, 2014

Cyprus Airways braces for EU decision

By Constantinos Psillides

Negotiations for the sale of Cyprus Airways (CY) seem to be heading for a dead end.

The nine companies currently short-listed for acquiring the ailing carrier, according to reports, appear to be put off by a pending EU Council decision, regarding a €73 million rescue package the company received in 2012, and a €31.3 million capital increase in early 2013.

The EU Council is set to decide whether CY has to return that money to the state,…

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Cyprus Airways braces for EU decision
Local News October 1, 2014

Ryanair seeks to boost standing in Cyprus

By Angelos Anastasiou
Amidst a bidding war with rival carriers over the acquisition of struggling Cyprus Airways, Ireland-based budget airline Ryanair has applied to the Cyprus Department of Civil Aviation (CDA) for a Cyprus Air Operator Certificate (AOC), which would allow it to set up a subsidiary airline on the island.
Ryanair’s CEO Michael O’Leary said last week that the company had “already applied for a Cypriot AOC.”
The certificate – essentially a license to operate –…

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Ryanair seeks to boost standing in Cyprus
Local News September 11, 2014

Minister rejects Ryanair prediction that Aegean would win CY bid

By Constantinos Psillides

Communications and Works Minister Marios Demetriades has rejected comments by Ryanair boss Michael O’Leary who said he thought Aegean was more likely to succeed in its bid for Cyprus Airways (CY).

Responding to a question on Wednesday regarding Ryanair’s own bid to acquire Cyprus Airways, O’Leary was quoted saying that “on balance it’s more likely to go to Greece, but we’ll make it difficult for them by offering very rapid growth.”

O’Leary was referring to Aegean Airlines,…

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Minister rejects Ryanair prediction that Aegean would win CY bid
Business Local News September 11, 2014

Ryanair boss sees Aegean ‘more likely’ to buy Cyprus Air

By Conor Humphries

RYANAIR’s chief executive said on Wednesday the Irish low-cost airline plans to pursue a takeover of Cyprus Air, with the aim of setting up a hub to serve the Middle East.

But Michael O’Leary said he thought Greek rival Aegean was more likely to succeed in its bid to use the airline to feed traffic to Athens.

“On balance it’s more likely to go to Greece, but we’ll make it difficult for them by offering very rapid growth,” he told reporters in Dublin after…

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Ryanair boss sees Aegean ‘more likely’ to buy Cyprus Air
Local News September 4, 2014

Nine non-binding bids for CY

RYANAIR, Europe’s largest budget airline, and Greece’s Aegean were among nine companies that submitted non-binding proposals for the acquisition of Cyprus Airways (CY), Transport Minister Marios Demetriades has said.

Demetriades told Reuters “more than half” of the 15 parties that earlier made an initial expression of interest and signed a non-disclosure agreement had submitted non-binding business proposals by the time the deadline expired on Wednesday evening.

“I would say the response is encouraging, but we have to assess the non-binding proposals to see what…

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Nine non-binding bids for CY

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