Ryanair (FR, Dublin International) CEO, Michael O'Leary, has downplayed the likelihood of his airline winning the race for Cyprus Airways (1947) (Larnaca) claiming the Irish LCC stood less than a 50% chance of doing so. Ryanair was among nine other candidates which submitted non-binding bids to Nicosia for a stake in the struggling Cypriot carrier.
According to the Irish Examiner, O'Leary said Greek carrier, Aegean Airlines (A3, Athens), would most likely be selected as the winning bid with a final decision to be made some time in November.
Nevertheless, the CEO added that in the event Ryanair's bid is not successful, it has already applied for a Cypriot Air Operator's Certificate (AOC) which then allow it to tap into the Middle Eastern, Russian and CIS markets.
Other bidders that have expressed an interest in Cyprus Airways are: 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).
In other news, Ireland's Independent is reporting that Ryanair has put plans to launch routes from Dublin to St. Petersburg and Moscow on hold for now.
