25 August 2014 12:01

Moves to sell struggling Cyprus Airways continue on Monday with representatives of Aegean Airlines.
The talks had kicked off last Friday with Ryanair’s chief executive Michael O’Leary,
Leading Aegean’s delegation is its vice president Eftychios Vasilakis.
Ryanair, Aegean and Romanian low cost airline Blue Air are among 15 interested parties to have submitted non-binding expressions of interest in the stricken national carrier.
The process is a preliminary step towards any eventual binding offers. A series of meeting are scheduled with the various interested parties until noon, this Friday.
Initially 22 companies had expressed an interest, but only 15 signed agreements of confidentiality and continue to participate in the process.
Aegean Airlines has recently expressed interest in Cyprus Airways as it aims to use Larnaca as its second base after Athens.
Based on the government’s time plan, proposals must be submitted by August 29 which will be evaluated by September 30. A short list will be asked to submit final proposal.
The government appears keen to move quickly so that an agreement can be implemented in October. Key conditions are for Cyprus to remain the airline’s base and for as many of the staff as possible to retain their jobs.
Meanwhile, cabinet on Wednesday is expected to appoint a new chairman for the national airline, replacing Tony Antoniou who resigned last Friday.


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