It seems so, according to an interview published in a weelky national newspaper - SOL.
"Reports have emerged that Ryanair is in negotiations with Portuguese airport management company ANA – Airports of Portugal to establish new routes within the country, namely to and from Lisbon and the Portuguese islands of Madeira and the Azores, as well as creating a second base for its fleet, possibly Lisbon.
However, while it has been confirmed that the budget carrier is in negotiations with various airports throughout Europe as part of an upcoming expansion plan, none within Portugal have been singled out or confirmed as new bases or destinations.A Ryanair source reportedly told SOL that a low cost route between Lisbon and its current national base Oporto was in the making, should negotiations be successful, and that the airline was interested in furthering its investment in this country by expanding its flights to Madeira and the Azores.
Lisbon’s Portela Airport could also become a new Ryanair base, should negotiations create the appropriate conditions.
“Besides Lisbon, we are very interested in the possibility of entering Portugal’s islands”, the source told SOL.
Daniel de Carvalho, Ryanair’s European Communications Manager, told The Portugal News, “Ryanair is talking with ANA about all of ANA’s airports”, but added, “Ryanair is also in talks with well above 100 other airports in Europe to accommodate Ryanair’s expansion over the coming months”.
Regarding the suggested domestic Lisbon-Oporto route, he explained that, “logistically, the only route that could be served domestically to any airport in Portugal (including Lisbon) must start in Oporto since that’s the [company’s] only base [in this country]”. The same applies to any other domestic route, such as flights to and from Madeira and the Azores".