Sunday April 26, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Deadline looms for struggling Cyprus Airways

Potential buyers of Cyprus Airways have until Wednesday to submit nonbinding offers for the loss-making national carrier, with Ryanair and Aegean Airlines in the running.

Ireland’s budget carrier Ryanair said last week that it was ready to submit a firm offer for Cyprus Airways, before the government extended last Friday’s deadline for nonbinding offers to Wednesday.

Although it made no official statement on the deadline extension, local media quoting official sources said it was to allow more time for the 14 interested suitors to put in a bid.

Some of them had reportedly complained they did not have access to questions raised and answers provided to rival bidders.

Earlier in August, Ryanair CEO Michael O’Leary met with Cypriot officials and proposed how he could turn the airline into a profitable operation by increasing passenger traffic by 500 percent over three years.

He said that with the help of his low-cost airline Cyprus Airways would experience rapid growth with new routes and more flights, increasing passenger numbers to 3 million a year from the current average of 500,000.

The recession-hit government owns 93 percent of troubled Cyprus Airways and wants to offload it.

Greece’s Aegean Airlines, which has also held talks with government officials, is seen as another serious contender as it aims to use Larnaca Airport as a second base outside Athens.

Also said to be in the frame are Romania’s low-budget Blue Air and Spanish Group Arevenca in collaboration with Fly Aruba.

Cyprus Airways, meanwhile, has had a change of chairman, with Tony Antoniou stepping down last month to be replaced by former civil servant Makis Constantinides.

Local newspapers say key conditions for the sale are that the airline remains based in Cyprus and as many staff as possible keep their jobs.

Once nonbinding business proposals have been received by 6 p.m., a short list will be drawn up at the end of September.

Those on the short list will be given financial data on Cyprus Airways and asked to put in a final binding offer.

[AFP]

ekathimerini.com , Tuesday September 2, 2014 (21:19)  
Construction material costs slide anew
Navios taps German shipping opportunities
Gov’t eyes state company reserves
Thessaly stores likely to remain closed on first Sunday of spring sales
FM warns against a lose-lose situation [Update]
Germany will have to decide whether it wants to support Greece or make an example of the SYRIZA-led administration, Foreign Minister Nikos Kotzias said on Friday. “Do they want to support us...
PM tries to appease mayors, regional governors over cash bill
Prime Minister Alexis Tsipras met regional governors and mayors over the weekend in a bid to overcome their objections to a decision by the government forcing local authorities to hand over ...
Inside News
WATER POLO
Olympiakos wins Euro crown in women´s water polo
The women’s water polo team of Olympiakos won its first ever LEN Euro League at the Final Four it hosted in Piraeus by beating holder Sabadell from Spain 10-9 in Saturday’s final. After defe...
SOCCER
Rival soccer fan clashes leave man stabbed
One man was stabbed and several others slightly injured as rival Thessaloniki club fans clashed late on Friday at an event held by Aris supporters. Reports from Greece’s second city stated t...
Inside Sports
COMMENTARY
Five years ago
This week marks five years since Greece officially entered a period of crisis when then Prime Minister George Papandreou announced that the country would seek a bailout from the eurozone and...
EDITORIAL
Slippery slope
The extremely divisive language that is currently being used by parliamentary deputies and coalition ministers is both unacceptable and dangerous. It is high time that the tired, old argumen...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Olympiakos wins Euro crown in women´s water polo
2. FM warns against a lose-lose situation [Update]
3. PM tries to appease mayors, regional governors over cash bill
4. Poll: Large majority of Greeks want compromise with lenders
5. Police rescue 69 migrants from Evros River
6. Thessaloniki nanny denies abusing toddler
more news
Today
This Week
1. Five years ago
2. PM tries to appease mayors, regional governors over cash bill
3. Poll: Large majority of Greeks want compromise with lenders
4. Greece not playing a game of chicken on debt
5. FM warns against a lose-lose situation [Update]
6. Slippery slope
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
3. Europe's collision course with Greece
4. Leaving the past in the past
5. The price of compromise
6. Denialism
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.