The Government of the Republic ofCyprus is the major shareholder in the carrier, holding a 93.67% stake, withthe remainder in the hands of private investors. The government stressed theEOI did not constitute “an offer or invitation to subscribe for or purchase”any shares and related only to “the submission of a non-binding intention toinvestigate the possibility of submitting a binding offer.” The government ofCyprus has officially put Cyprus Airways up for sale in a final attempt to savethe airline from bankruptcy.
CommunicationsMinister Marios Demetriades said that almost 20 companies havesubmitted non-binding expressions of interest in Cyprus Airways, a state-ownedcarrier that the government wants to privatise.
AegeanAirlines, Ryanair and Israel’s Arkia were among thosefirms, Demetriades told Reuters.
Romanian low-costcarrier Blue Air said it had also submitted an expression ofinterest, which is a preliminary step before authorities invite binding bids.
“At least 25 percent of thosecompanies which submitted an expression of interest are related to aviationcompanies,” Demetriades said.