Ryanair’s chief marketing officer Kenny Jacobs has confirmed it will bid to takeover Cyprus Airways.
Jacobs told BBC Radio 5 Livethat it would submit its business proposal for the loss-making airline in time for the bid deadline on Friday.
Speaking to the BBC, Jacobs said: "Ryanair is planning to make a non-binding offer on Friday as a result of a positive meeting last week."
Ryanair’s CEO Michael O’Leary had already confirmed he was travelling to the Cypriot government to discuss the possibility of buying the airline.
There is expected to be around 15 different bids for Cyprus Airways and an announcement will be made in October.
As part of the deal Cyprus Airways would retain its brand and operate under a separate air operator’s certificate to Ryanair.
Cyprus Airways’ future has been insecure for the past couple of years and in April last year it rejected a rescue plan from the island’s government. It has also sold off assets including slots at Heathrow airport.
Ryanair.com