Cyprus Airways (1947) (Larnaca) could be relaunched under a new investor by the end of the year airline chairman, Tony Antoniou, has said. Speaking to the Cyprus Mail following talks between the airline and a Ryanair (FR, Dublin International) negotiating team lead by Michael O'Leary, Antoniou said all interested investors should submit their non-binding proposals by the end of the month following which they will be reviewed on September 30. A short list of suitable candidates will then be drafted, he added.
“There is a big response despite people saying Cyprus Airways was worthless,” Antoniou said. “CY will exist in different form. We will have a carrier based in Cyprus that will fly to more destinations.”
In a press conference held in Dublin following his meeting, O'Leary said his airline's proposal would focus on Cyprus Airways retaining its current brand in addition to operating under a separate Air Operator's Certificate (AOC) to Ryanair.
“From Ryanair’s point of view there is a very exciting future for Cyprus Airways where I believe, with the help of Ryanair, we could put Cyprus Airways and Cyprus' tourism back on a path of a very much renewed and rapid growth, with new routes, more flights and new jobs for pilots, cabin crew, and engineers here in Cyprus,” he said adding that the Irish LCC could boost Cyprus Airways' passenger numbers to 3million per year from 600'000 currently.
Aegean Airlines (A3, Athens), which is among the 22 other firms interested in acquiring some or all of Nicosia's 93.67% controlling stake in the airline, is due to present its case this week.
