Posts by tag: Ryanair

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
Local News August 29, 2014

Authorities extend deadline for non-binding airline offers

Authorities in Cyprus have extended Friday’s deadline for submission of non-binding expressions of interest in Cyprus Airways until Sept. 3, aiming to give possible bidders plenty of time to formulate their offers.

Companies which have said they might be interested in bidding for the carrier include Ryanair, Europe’s largest budget airline, and Greece’s Aegean Airlines.

“The ministry wants to give all candidates the possibility and time to submit comprehensive proposals,” a source at the Cypriot ministry of communications and works told Reuters on Friday.

A Ryanair executive earlier this week…

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Authorities extend deadline for non-binding airline offers
Business Local News August 22, 2014

CY could have new owner by the end of the year

Investors interested in Cyprus Airways (CY) must submit non-binding proposals by the end of the month, the company’s chairman said on Friday, as low-cost airline Ryanair said it could put it back on rapid growth.

Proposals will be reviewed on September 30 and a short list will be drafted, Tony Antoniou said.

The procedure could be completed by the end of the year, the chairman said after a meeting between the negotiating team and Ryanair CEO Michael O’Leary on Friday.

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CY could have new owner by the end of the year
Local News August 21, 2014

Ryanair to hold talks on possible Cyprus Airways takeover

Ryanair Chief Executive Michael O’Leary is to travel to Cyprus on Thursday for talks with the government about the possible takeover of loss-making carrier Cyprus Airways, he told journalists.

Ryanair was among nearly 20 companies which last month submitted non-binding expressions of interest in the airline, now controlled by the Cypriot government. The process is a preliminary step towards any eventual binding offer.

O’Leary’s announcement marked a change of approach as he had said last month that Ryanair, Europe’s largest budget airline, was not particularly interested in acquiring the carrier.

“We…

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Ryanair to hold talks on possible Cyprus Airways takeover
Local News July 29, 2014

CY needs a strategic investor, minister says

By George Psyllides

Cyprus Airways (CY) needs a strategic investor to survive in the long run, Communications Minister Marios Demetriades said on Tuesday, a day after Ryanair said it was not particularly interested in the troubled national carrier due to its legacy issues.

Ryanair was among nearly 20 companies which last week submitted a non-binding expression of interest in Cyprus Airways, now controlled by the government.

At least five are involved in air transport.

The process is a preliminary step…

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CY needs a strategic investor, minister says
Local News July 28, 2014

Ryanair not ‘particularly interested’ in Cyprus Airways

RYANAIR boss Michael O’Leary said on Monday that the airline was not particularly interested in acquiring troubled Cyprus Airways, which he said had huge legacy issues.
Ryanair was among nearly 20 companies which last week submitted a non-binding expression of interest in Cyprus Airways, now controlled by the government. The process is a preliminary step towards any eventual binding offer by any bidder.
“We are not particularly interested in Cyprus Airways which has huge legacy issues: pension scheme,…

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Ryanair not ‘particularly interested’ in Cyprus Airways
Business Local News July 24, 2014

Almost 20 companies interested in Cyprus Airways sale

By Michele Kambas

ALMOST 20 companies have submitted non-binding expressions of interest in Cyprus Airways , a state-owned carrier that the government wants to privatise, Communications Minister Marios Demetriades said on Thursday.

Aegean Airlines, Ryanair and Israel’s Arkia were among those firms, Demetriades told Reuters.

Romanian low-cost carrier Blue Air said it had also submitted an expression of interest, which is a preliminary step before authorities invite binding bids.

“At least 25 percent of those companies which submitted an expression of interest are related to aviation companies,” Demetriades said.

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Almost 20 companies interested in Cyprus Airways sale
Business Local News July 22, 2014

Ryanair boss says company may show interest in Cyprus Airways

Ryanair will probably submit an expression of interest in troubled Cyprus Airways which is up for sale, Chief Executive Michael O’Leary said on Tuesday.

The Cypriot government in mid-July invited non-binding expressions of interest in its shares or assets in Cyprus Airways, the state-controlled airline which has posted heavy losses for years.

The deadline for submissions is July 23, and requires a non-binding expression of interest to consider a potential binding offer.

“We probably will make some expression of interest…

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Ryanair boss says company may show interest in Cyprus Airways

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