Blue Air plans to participate, jointly with the investment fund Renaissance Capital controlled by Russian group Onexim, which in turn is controlled by businessman Mikhail Prokhorov, in the privatization of Cyprus Airways, the low-cost carrier announced. In this regard, Blue Air officials paid a visit to Cyprus, where they met officials of this country’s government, of the Aeronautical Authority and of the consultant KPMG designated to structure the privatization process. According to Blue Air, given the confidentiality agreement signed with the Cyprus government via the consultant in charge with the privatization, the technical details of this transaction cannot be made public now. Cyprus’ national airline Cyprus Airways was found in 1947 and operates a fleet of 6 Airbus 320 planes to 19 destinations in Europe and the Near East. Cyprus Airways has partnerships with several airlines, including Tarom.
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