Ryanair CEO Michael O'Leary has stated that his airline’s interest in the sell-off of Cyprus Airways extends only as far as its Air Operator’s Certificate (AOC) and not its actual business.
O’Leary also stated that Ryanair's decision to submit an Expression of Interest (EOI) for the Cypriot carrier came after the Cypriot government requested it to do so.
O’Leary said: “We are not particularly interested in Cyprus Airways which has huge legacy issues: pension scheme, historic losses [and] it looks like it may have to repay about €100million in legal state aid.”
However, the Ryanair CEO did state that the acquisition of Cyprus Airways' AOC would allow Ryanair to use Cyprus as a base, providing route expansion into Russia and throughout the Middle East.
Ryanair considers Middle East options via Cyprus Airways AOC
