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Aegean Airlines & Cyprus Airways Conduct Preliminary Purchasing Discussions

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Preliminary discussions regarding the sale of Cyprus Airways have begun with Aegean Airlines Vice President Eftychios Vasilakis.

The Greek air carrier is one of fifteen companies that have shown interest in acquiring the national carrier, including Ryanair and Romania's Blue Air.

Negotiations are in their infancy stage, while a sequence of meetings will occur until this Friday, with all interested companies who have signed confidentiality agreements regarding the interactions. Aegean Airlines is looking to facilitate Larnaca as its secondary hub after Athens.

The Republic of Cyprus has a deadline of August 29th for all proposal submissions, which will be analyzed by September 30th. The companies in the final stage of acquirement will be required to offer a final proposal. The nation looks to finalize an agreement by October.

Requirements for the purchase of Cyprus Airways include keeping the carrier's headquarters in Cyprus and to preserve employee positions. It has been predicted that a new Cyprus Airways chairman will be assigned on Wednesday, after Tony Antoniou stepped down this past Friday.