A Chinese company is interested in buying ailing national carrier Cyprus Airways (CY), it was announced Friday.
In a statement to investors, CY said officials from Beijing Yi Xiang Da Investment Co Ltd held talks with finance ministry and airline officials.
Signs for a conclusion appear to be encouraging, the airline said, but there has not been an agreement yet.
The airline is currently going through what is perhaps the most critical period since its creation, unable to keep up with competition from cheaper carriers and rising fuel costs.
It has been kept afloat with state assistance, which however, EU competition regulators are currently investigating.