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Financial Mirror (Cyprus) - - FRONT PAGE -

A Min­is­te­rial Com­mit­tee will con­vene on Fri­day, Au­gust 1 to con­sider the ini­tial ex­pres­sion of in­ter­est for the govern­ment’s 94% stake in Cyprus Air­ways, Com­mu­ni­ca­tions and Works Min­is­ter Mar­ios Deme­tri­ades said on Tues­day.

The Com­mit­tee will as­sess the 20 com­pa­nies that sub­mit­ted non-bind­ing ex­pres­sions of in­ter­ests (EoI) to ac­quire the Cypriot air car­rier, af­ter which it will pro­ceed with the sec­ond stage, the sub­mis­sion of de­tailed pro­pos­als on how these com­pa­nies plan to utilise the com­pany or the com­pany’s as­sets. Greece’s Aegean Air­lines is one of five air­lines that sub­mit­ted an EoI, with the re­main­der be­ing travel com­pa­nies and in­vest­ment funds.

Ryanair, that the me­dia had mis­tak­enly re­ported as show­ing a keen in­ter­est, said that it will not pro­ceed, as the Fi­nan­cial Mir­ror had re­ported last week that CEO Michael O’Leary had said he was more keen on ex­pand­ing the air­line’s op­er­a­tional base in Cyprus, even though air­port tar­iffs are much higher than many other Euro­pean des­ti­na­tions.

O’Leary said he was keen to see Cyprus Air­ways re­main afloat and that he would look into en­hanc­ing Ryanair’s pres­ence in the eastern Mediter­ranean.

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