Thursday Jan 29, 2015 Search
Weather | Athens
14o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Ryanair in Cyprus Airways talks

Ryanair Chief Executive Michael O’Leary in a recent photo.

Ryanair Chief Executive Michael O’Leary was due 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 nonbinding expressions of interest in the airline, now controlled by the Cypriot government.

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 are engaged in the process and hope something will come of it. It’s a very political process down there,” he told a new conference in Dublin, adding that any deal would be small relative to Ryanair’s overall growth strategy.

Under his company’s proposal, Cyprus Airways would retain its brand and operate under a separate air operator’s certificate to Ryanair, he said.

The Irish airline will propose it could boost the airline’s passenger numbers to 3 million per year from 600,000 currently, down 50 percent from its peak, O’Leary said. Ryanair has only ever taken over one other airline, Buzz.

Cyprus Airways has struggled to survive against cheaper competitors and has been loss-making for years despite several attempts at a turnaround.

The airline has recently resorted to selling assets to stay afloat, including its slots at London’s Heathrow Airport.

It is also under scrutiny by the European Commission.

Brussels is investigating terms of a 31.3-million-euro capital increase in early 2013, and a 73-million-euro rescue package by the Cypriot state in 2012 to establish whether it violated state aid rules. [Reuters]

ekathimerini.com , Thursday August 21, 2014 (19:19)  
France says no waiver for Greece, maybe more time to pay debts
Greek banks rebound as gov´t cites inexperience for remarks
Greek bond drop sends yield to 16-month high on debt wrangling
Varoufakis to meet Italian counterpart in Rome next week
Tsipras meets with European Parliament chief Schulz in Athens
Greek Prime Minister Alexis Tsipras welcomed the President of the European Parliament, Martin Schulz, at the Maximos Mansion on Thursday afternoon. According to sources, the top German EU of...
Foreign Ministry slams report on Kotzias ties with Russian ultra-nationalist
The Greek Foreign Ministry on Thursday issued a statement in response to a story published in the Financial Times describing alleged ties between newly appointed Foreign Minister Nikos Kotzi...
Inside News
SOCCER
PAOK strikes deal with Portugal´s Ricardo Costa
PAOK announced on Tuesday its agreement with Portuguese international defender Ricardo Costa. The Thessaloniki club added that the player is expected on Wednesday to undergo a medical test a...
BASKETBALL
Basket League favorites survive challenges on the road
PAOK consolidated its position in the top three of the Basket League with a triumph at AGO Rethymnou on Saturday, while Olympiakos and Panathinaikos emerged victorious from their tough away ...
Inside Sports
COMMENTARY
New Democracy’s challenges
There is a good deal of unease in New Democracy, and not just because of the defeat it suffered in Sunday’s polls. That had been expected, despite the optimistic and combatant messages from ...
EDITORIAL
Keep politics out of school
A few years ago the Greek Parliament ratified a law for a complete overhaul of the tertiary education system with a solid majority of 255 votes from 300 MPs. Since then, with the exception o...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. France says no waiver for Greece, maybe more time to pay debts
2. Tsipras meets with European Parliament chief Schulz in Athens
3. Foreign Ministry slams report on Kotzias ties with Russian ultra-nationalist
4. Funerals for F-16 pilots held in Athens
5. Greek banks rebound as gov´t cites inexperience for remarks
6. No problems with pensions, says Stratoulis
more news
Today
This Week
1. Greece wants a debt break, but what about its poorer neighbors?
2. Investors turn on Tsipras’s campaign to end austerity in Greece
3. $11 billion wiped from Greek banks on nationalization threat
4. Varoufakis says Russia row not about sanctions, but proper consultation
5. Schulz warns Tsipras against straying from stance against Russia, ahead of Athens meeting
6. ECB' Coeure tells Greece: stick to 'rules of game'
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greeks fork out nearly 5 pct of their incomes on telecom services
5. Greek Elections 2015: The day after | LIVE
6. Poll shows SYRIZA leading ND by 4 pct
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.