Olympic Airways Greece

Found on lollylegs.com

ATHENS, Feb 2 (Reuters) - Greece wants a foreign airline to invest in Olympic Airlines [OLY.UL] as part of its attempt to privatise the ailing carrier, Transport Minister Kostis Hatzidakis said in an interview published on Saturday. Greece has been trying Marfin Investment Group SA, the investment firm backed by Dubai Financial LLC, has been chosen by Greece to buy its unprofitable flag carrier Olympic Airlines SA. Talks between Marfin and the Greek government’s advisers on a sale of the flight business ATHENS, Greece (AP) ¿ The government signed an agreement Monday to sell ailing state airline Olympic Airlines to Greece's private Marfin Investment Group. The deal to privatize the "sick man of the Greek economy" is worth a total euro177.2 million ($240.3 Greece's finance ministry says it has sold four Airbus A340-300 jets once owned by the now defunct carrier Olympic Airways to Apollo Aviations Group for $US40.4 million ($A39.41 million). "This sale is included in privatisation plans as part of the medium Greece reached a deal to sell its ailing Olympic Airlines to the Marfin Investment Group, despite a bid from a private rival, Aegean Airlines. Government sources said it was doubtful a merger with Aegean would meet European Union rules. Aegean offered 90 Olympic Airways has announced the suspension of all flights to The effect of such a decision seems huge for the tourist offices organising group trips to Greece, not only from Austria but adjacent countries that used Vienna’s airport. .

Greece-based Aegean Airlines reported an after tax profit of €15.9 million However, net earnings for the period were up 131% from €6.9 million year-on-year when Olympic Air is included in the respective period. First-half revenue increased 8% Greece handed over the Olympic torch to the U.K. on Friday, which is all fine and good, but how exactly do you get a lit torch on a plane and keep it safe? British Airways, the official U.K. airline for the 2012 Olympic Games, used their "Firefly" plane to So far, so good as negotiations are set to move forward and the suits over at Aegean Airlines are writing an oversized check for roughly 72 million euros to get things going. There haven’t been any details about where the combined carrier will head next .

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