RYANAIR has said that the sale of a 25 per cent stake in the privately owned company to an unnamed partner should be concluded by the end of June.
Ryanair had previously said that its negotiations with "a major international company" would be completed by the end of this month. A spokeswoman for the airline's owners, the Ryan family trust, said yesterday negotiations were proceeding and that a deal would be concluded by the end of next month.
A 25 per cent stake in Ryanair is worth at least £10 million, according to aviation industry sources. While Ryanair has refused to name its new shareholder, the Observer newspaper has claimed that the Irish airline is close to a strategic with British Airways.
While BA may be favourite to take the 25 per cent stake, senior Ryanair executives are also known to have had negotiations with several other potential investors.
The company is believed to have talks with US executives involved in Richard Branson's new European low cost airline. A consortium led by Virgin Atlantic has bought 90 per cent of Belgium's EuroBelgian Airlines and plans to turn the company into a low cost operator.
Senior Ryanair staff are understood to have met Mr Jonathan Ornstein, who is to manage Virgin Europe, and the US businessman Mr David Bonderman, who holds stakes in Continental Airlines and America West.
