ryanair aegean state interest in buying cyprus airways
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Ryanair, Aegean state interest in buying Cyprus Airways

Arab Today, arab today

Arab Today, arab today Ryanair, Aegean state interest in buying Cyprus Airways

A Cyprus Airways plane
Nicosia - AFP

Ireland's Ryanair and Greece's Aegean Airlines are among more than 15 applicants who have made a non-binding expression of interest to buy loss-making Cypriot flag-carrier Cyprus Airways, officials said Thursday.
"The interest has surpassed our expectations but we need to point out that, at the present stage, we are simply recording that interest, so it doesn't mean that the interest will be followed up by a bid," Communications Minister Marios Demetriades told state radio Thursday.
"Aegean and Ryanair have announced their interest and there are other smaller airlines which have expressed their interest as well, but most interested parties are not airlines," he said.
He said the applicants will be evaluated at a later stage and will be called to submit binding offers by the autumn.
Reportedly, other firms who expressed an interest in buying Cyprus Airways assets include Israel-based Arkia, Romania’s no-frills Blue Air, Lebanon’s Middle East Airlines, as well as Spanish Group Arevenca in collaboration with Fly Aruba.
The Cypriot government, which owns 93 percent of Cyprus Airways, set the deadline for non-binding expressions of interest in shares or assets at midnight (2100 GMT) Wednesday.
The national carrier has been selling assets to keep flying, including three time slots at London's Heathrow airport.
Cyprus Airways is struggling to survive against intense competition on its most popular routes to Greece and London.
It has undergone several cost-cutting plans – axing staff, scrapping routes and downsizing its fleet -- but failed to stem losses.
It is also under investigation by the European Commission to see if it violated state aid rules in a 31 million euro share capital increase and a 73 million euro bailout from the state in the past two years.
The airline posted a net loss of 55.8 million euros for 2012, more than double the net loss of 23.88 million the previous year.
Operating losses almost doubled to 49.7 million euros from 25.5 million.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ryanair aegean state interest in buying cyprus airways ryanair aegean state interest in buying cyprus airways

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ryanair aegean state interest in buying cyprus airways ryanair aegean state interest in buying cyprus airways

 



GMT 14:30 2017 Sunday ,22 October

Abe coalition wins resounding victory in Japan vote

GMT 09:44 2017 Tuesday ,17 October

Morocco arrests 11 suspects linked to ISIS

GMT 13:09 2015 Tuesday ,09 June

Slaven Bilic returns to West Ham as manager

GMT 16:04 2017 Saturday ,30 September

Got a yacht? Proposed French tax break makes waves

GMT 13:06 2016 Saturday ,31 December

Syrian passport trade becomes unlikely cash cow

GMT 04:47 2017 Wednesday ,30 August

Mark Zuckerberg welcomes second daughter in Facebook

GMT 00:59 2014 Saturday ,07 June

January 19 - February 17

GMT 10:53 2017 Wednesday ,05 July

AU Summit gives priority to youth empowerment

GMT 17:26 2017 Wednesday ,15 February

Russian jets in ‘unsafe’ encounters with destroyer
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday