Thursday December 18, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Ryanair ‘not particularly interested’ in Cyprus Air

LONDON – Ryanair boss Michael O’Leary said on Monday that the airline was not particularly interested in acquiring troubled Cypriot carrier 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 Cypriot 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, historic losses (and) it looks like it may have to repay about 100 million in legal state aid,” O’Leary told reporters in London, after Ryanair released its quarterly results.

Ryanair had submitted an expression of interest in the carrier because the Cypriot government had asked them to, he added.

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.

O’Leary said Ryanair was keen to develop its business in Cyprus, and was looking at how to develop markets in the Middle East, using Cyprus as a base. “We’re happy to work with them on all of that,” said O’Leary, who has discussed expanding Cypriot tourism with the government. [Reuters]

ekathimerini.com , Monday Jul 28, 2014 (19:37)  
Bumpy ride, but stocks end higher
German parliament supports extending Greece bailout
Greek bond yields fall after ´friendly´ Schaeuble comments
No risk of contagion from Greek vote, Italy´s FinMin says
SYRIZA rules out political consensus before polls
Leftist SYRIZA leader Alexis Tsipras on Thursday categorically ruled out any kind of consensus with other political parties before elections. “We are prepared at this historic moment to lead...
University transfers in doubt after process canceled at two departments
The transfer of thousands of university students between institutions has been put in fresh doubt after the Council of State suspended the process at the architecture departments of Athens a...
Inside News
BASKETBALL
Pappas helps Greens overcome Aris
An impressive Nikos Pappas averted an upset by Aris and ensured Panathinaikos retained its perfect record on Tuesday, one day after Olympiakos thrashed Panionios at Nea Smyrni for the Basket...
´Wee Jay´ and idol Georgios Samaras receive Greek sports journalists´ award at Athens gala
A 10-year-old Irish fan of Greek striker Georgios Samaras was in Athens on Monday at the invitation of the Greek Sports Journalists' Association, which honored outstanding achievements in sp...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldn’t make it up: That Sony, one of the world’s biggest film producers, would be forced to pull a comedy about the assassination of North Korea’s dictator after a ...
COMMENTARY
Europe´s drama in Greece needs final act to avoid tragedy
Judging from Wednesday's vote in the Greek parliament, Prime Minister Antonis Samaras may not get the mandate he wants to keep economic austerity measures in place and avoid defaulting on th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. SYRIZA rules out political consensus before polls
2. University transfers in doubt after process canceled at two departments
3. Ex-ministers join forces to launch reform drive
4. Bumpy ride, but stocks end higher
5. Suspected migrant trafficker caught in northern Greece
6. Probe into Thessaloniki municipal corruption targets accountants
more news
Today
This Week
1. Europe's drama in Greece needs final act to avoid tragedy
2. Election looms as Samaras fails to win vote for president
3. Kammenos maintains firm position, says general election is 'one-way street'
4. What SYRIZA says about Greece’s economy, its debt and the euro
5. Merkel says Russia sanctions to remain unless Putin yields; Greece's prospects 'better than two years ago'
6. Snap elections would lead to euro exit, says former premier
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. East Europe scrambles for energy after Putin kills South Stream
6. Anarchist Nikos Romanos ends hunger strike
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.