Airbus delivers its 7,000th aircraft to US Airways
20th December 2011
Ryanair has stated it is planning to offer to buy Cyprus Airways, and may make a firm offer early next year subject to approval by the Cypriot government.
Ryanair’s Chief Marketing Officer Kenny Jacobs said: "Ryanair is planning to make a non-binding offer on Friday as a result of a positive meeting last week.” Jacobs also said a period of due diligence would be required before a binding offer was possible.
The airline's decision follows a meeting between Ryanair Chief Executive Michael O'Leary last Friday with the Cypriot government, which owns more than 90% of Cyprus Airways.
Ryanair was among almost 20 companies that have submitted non-binding expressions of interest in the airline.
Ryanair has previously only ever taken over one other airline, former KLM LCC subsidiary Buzz, which was absorbed into the Ryanair brand.