Ryanair May Show Interest In Cyprus Airways

Low cost airline Ryanair is likely to submit an expression of interest in Cyprus Airways which is up for sale, media reports said on 22 July.

According to a Reuters news report, the carrier’s CEO, Michael O’Leary, said he would meet with Cypriot tourism and finance officials and raise concerns over the high fees charged by Cypriot airports.

“We would like to grow more, but the impediment are the high costs,” he was reported saying. He added that a high cost base had seen Cyprus lose half a million passengers over a five-year period since 2008.

According to Ryanair, charges at Cyprus’ two airports are double that of an airport in Berlin and are among the highest in Europe.

Ryanair flies to eight European destinations from Paphos Airport.

In mid-July, the Cypriot government invited non-binding expressions of interest in its shares or assets in Cyprus Airways.