Cyprus Airways (1947) (Larnaca) has attracted non-binding bids from nine potential investors, among them Ryanair (FR, Dublin International) and Aegean Airlines (A3, Athens), Cyprus' Phileleftheros newspaper has reported.
With the deadline for the submission of bids having expired last week, the paper says nine of the fourteen original firms that had expressed an initial interest in the carrier had now submitted proposals. Phileleftheros said proposals included making Cyprus a regional MRO hub and increasing the airline's fleet as demand dictates. However, concerns were raised about the cost of leases currently being paid for the carrier's fleet of A320-200s in addition to pilot remuneration rates.
Alongside the Irish LCC and the Greek carrier, Cypriot Minister of Communications, Marios Demetriades, last week said other bidders include: Arkia Israeli Airlines (IZ, Tel Aviv Ben Gurion), a "prominent" Russian investor with Swiss citizenship, "Cyprus Air" - a bid led by a Cyprus Airways pilot working alongside another Russian investor, and the Arevenca Group (a joint-venture between flyAruba (Aruba) and Spain's Triple Five Group). Blue Air (Romania) (BLA, Bucharest Henri Coanda) and S7 Airlines (S7, Novosibirsk) have, however, pulled out, he added.
Demetriades noted that the evaluation of proposals has already begun and expressed the belief that it will be completed in the coming days with the third phase of the process to begin "as soon as possible."
