21st Aug 2014 11:50
LONDON (Alliance News) - Ryanair Holdings PLC's Chief Executive, Michael O'Leary, is to travel to Cyprus today to hold talks with the country's government about a possible takeover bid for loss-making Cyprus Airways Public Ltd, Reuters reported Thursday.
Speaking at a news conference in Dublin, O'Leary said Ryanair is "engaged in the process" and said the company "hopes something will come of it." He added it was a "very political situation" in Cyprus and said any deal would be small relative to the budget carrier's overall growth strategy.
O'Leary comments mark a change of approach for Ryanair, after he last month said the company was not particularly interested in buying the Cypriot carrier, Reuters said.
Ryanair was one of nearly 20 companies which submitted non-binding expressions of interest in the airline last month.
http://uk.reuters.com/article/2014/08/21/uk-ryanair-cyprus-airways-idUKKBN0GL0WZ20140821
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
RYA.L