(ANSA) - ATHENS - Aegean Airlines has applied to enter the first stage of the process to sell Cyprus Airways, Kathimerini online reports quoting a bourse filing by Greece's biggest carrier on Wednesday.

Sources say that the airline has chosen to participate in this part of process as it does not have a binding character, and, as Aegean officials said, "We have no reason to stay out of the procedure".

The Cypriot government had set as the deadline for expressions of interest in Cyprus Airways, having issued an open invitation for expressions of interest to strategic and other investors for the acquisition of shares or significant assets of the carrier, which is majority-owned by the state. The battle for the Cypriot airline is expected to be fierce as several companies outside the European Union have also expressed an interest, attracted by the European airport slots that Cyprus Airways has at its disposal and the capacity to operate flights to and from most of the major European terminals.

Cypriot newspapers reported that low cost airline Ryanair is likely to submit an expression of interest in Cyprus Airways.

(ANSA).