Ryanair (FR, Dublin International) CEO Michael O'Leary says his airline will likely submit an Expression of Interest (EOI) for a stake in troubled Cyprus Airways (1947) (Larnaca). The Cypriot government, which owns a 93.67% stake in the carrier, last week called on strategic and financial investors to acquire either “shares or a significant bundle of assets” in the national airline.
"We probably will make some expression of interest in Cyprus Airways," O'Leary told Reuters in Nicosia. "We want to see if we could help the government come up with some rescue package even though it might be too late."
O'Leary added that he was meeting Cypriot government officials to discuss the country's high airport fees.
The loss-making national carrier has sold off assets - among them A320s and both its London Heathrow slots - in a bid to remain afloat.
