Ryanair in bidding for Cyprus Airways

Ryanair is in the second round of bidders to take over loss-making Cyprus Airways, chief executive Michael O’Leary said yesterday.

Mr O’Leary said his company would meet with auditor KPMG in Cyprus today, but did not know how the process of selling the loss-making airline, which is more than 90%-owned by the Cypriot government, would proceed.

”We’re down to the second round of bidders. I don’t even know who (else) is in the second round,” Mr O’Leary said after a news conference in Rome.