Time's up for buyers of Cyprus Airways

[NICOSIA] Potential buyers of Cyprus Airways had until Wednesday to submit non-binding offers for the loss-making national carrier, with Ryanair and Aegean Airlines in the running.

Ireland's budget carrier Ryanair said last week that it was ready to submit a firm offer for Cyprus Airways, before the government extended last Friday's deadline for non-binding offers to September 3.

Although it made no official statement on the deadline extension, local media, quoting official sources, said that it was to allow more time for the 14 interested suitors to put in a bid.