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European Commission Skeptical On Major Airline Merger

The European Commission may reject the merger plan between Olympic Air and Aegean Airlines due to competition concerns, press reports said last month.
Posted On 01 Feb 2011
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“We would have had to change the overall tourism strategy of the country even if we were not in a crisis,” Deputy Culture and Tourism Minister George Nikitiadis (center) said at a press conference during Philoxenia. Mr. Nikitiadis referred to the ministry’s new strategy for Greek tourism and emphasized in particular on the development of alternative forms of tourism. He is pictured with President and CEO of Helexpo Paris Mavridis and President of the Greek National Tourism Organization Nicolas Kanellopoulos.
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VAT Reduction Keynote At Philoxenia 2010

The 26th Philoxenia International Tourism Exhibition, held this year on 18-21 November at Helexpo in Thessaloniki, roughly hosted 500 exhibitors from Greece and 12 other countries (Egypt, Albania, Brazil, Bulgaria, Ghana, India, Cyprus, Russia, Serbia, Syria, Turkey, and Tunisia).
Posted On 01 Dec 2010
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Olympic Air-Aegean Airlines Merger Hit Obstacles

The European Commission will decide whether or not to approve the merger between Olympic Air and Aegean Airlines on 12 January 2011, according to European Commissioner for Competition, Joaquin Almunia. The merger was expected to receive approval by 7 December 2010.
Posted On 01 Dec 2010
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Olympic Airlines, in operation as of 2003, was sold to Marfin Investment Group for 177,1 million euros in March 2009. The airline’s successor Olympic Air is now waiting approval from the European Commission to merge with Aegean Airlines and become one company.
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Dept Hanging Over Olympic Airlines Reduced

Olympic Airlines SA will not have to repay an amount of illegal state aid back to Greek state coffers as a European Commission’s decision was overturned last month by the European Union’s General Court.
Posted On 01 Oct 2010
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“A possible imminent approval of our agreement with Olympic Air could allow us to present in the summer of 2011 an expanding profile,” Aegean’s managing director Dimitris Gerogiannis said last month in a press release.
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Olympic Air/Aegean Airlines Agreement Under Investigation

The European Commission opened an in-depth investigation last month into the planned Olympic Air/Aegean Airlines merger as its initial inquiry into the deal showed it could raise “serious competition concerns.”
Posted On 01 Sep 2010
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Athens Airways was annulled from serving the nine state subsidized air route destinations.
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Athens Airways Ousted From State-Subsidized Program

Athens Airways was recently declared in default by the Civil Aviation Authority (CAA) and was annulled from serving the nine state subsidized air route destinations it had undertaken in April. The routes are now assigned to Olympic Air and Sky Express.
Posted On 01 Jul 2010
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Ground Handling Services To Open In Greek Airports

A draft bill that sees the full and final opening of ground handling services at Greece’s 34 regional airports is under preparation, Infra­struc­ture, Transports and Networks Minister Dimitris Reppas announced at a recent press conference.
Posted On 01 Jul 2010
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Aegean Airlines President Theodoros Vasilakis
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Aegean Airlines, Olympic Air Discuss Partnership

Greece’s two largest carriers, Aegean Airlines and Olympic Air, recently confirmed potential cooperation talks held between their major shareholders. Both companies have released no details so far.
Posted On 01 Mar 2010
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Contenders Announced For Remote Greek Island Routes

Five airlines have expressed interest in the tender for the operation of the 24 state-subsidized air routes to remote Greek islands for the period 1 April 2010-31 March 2012.
Posted On 01 Feb 2010
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Olympic Air Grabs Last Agones Grammes Routes

The operations of the nine remaining state-subsidized air routes (24 in total) to remote Greek islands were awarded to Olympic Air at the price of 5,220,527 euros, the Civil Aviation Authority announced in late November 2009.
Posted On 01 Jan 2010
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MIG President Andreas Vgenopoulos.
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Agones Grammes Interim Tender Causes Clashes

MIG President Andreas Vgenopoulos recently criticized Transport Deputy Minister Nikos Sifounakis as he made reference to a "scandalous government inability" and "lack of specific policy in air transports" in regards to the latter's handling of the interim state-subsidized...
Posted On 01 Dec 2009
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Olympic Air's official launch at the company's technical base at Athens International Airport.
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Olympic Air Officially Takes Off

Marfin Investment Group will continue to place public interest above short-term business interests for as long as Greece is tested by the crisis, said the company's President Andreas Vgenopoulos during the official inauguration ceremony of Olympic Air held at the company's...
Posted On 01 Dec 2009
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The party is just starting,
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Aegean Airlines Sets The Record Straight

Aegean Airlines last month rejected allegations from Olympic Air that the launch of the Thessaloniki-Istanbul route on 9 September was a result of a secret agreement between the airlines, the Foreign Ministry and the Civil Aviation Authority.
Posted On 01 Nov 2009
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Thessaloniki Upset Over Olympic Route Cuts

The necessary route cuts to and from Athens were covered by alliances that Olympic Air secured with other airlines but a similar move was not made for Thessaloniki, which adds to the city's further aviation isolation, the Professional Chamber of Thessaloniki recently said.
Posted On 01 Nov 2009
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Olympic Air began operations on 1 October with a fleet of 21 aircraft that should rise to 25 by the end of November and gradually expand to 32 under an investment plan that exceeds some 750 million euros. Olympic Air employs a staff of 5,000 people.
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Olympic Air Takes Off

Olympic Air, the successor of former state-run carrier Olympic Airlines, made its first official flight to Thessaloniki on 1 October with an Airbus 320. The first route symbolically retraced the route first taken by Aristotelis Onasis' Olympic Airways on 6 April 1957 with a...
Posted On 01 Nov 2009
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Dinos Frantzeskakis, President Hellenic Association of Airline Representatives
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Dinos Frantzeskakis

On the dawn of summer 2009 and a difficult tourism season, Philoxenia 2009 opens its doors once again. Despite the atmosphere of gloom and doom within the global airline industry, with diminishing profits, even bigger losses and the world economy still in disarray, a ray of hope...
Posted On 01 Nov 2009
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MIG President Andreas Vgenopoulos
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New Era Of Olympic Begins: Olympic Air

“Greece is high above,” was the slogan of Olympic Air's press conference held last month in regards to the launch of operations of the new and privatized Olympic that replaces the loss-making state carrier Olympic Airlines.
Posted On 01 Oct 2009
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Olympic Air To Fly As Of October 2009

Marfin Investment Group (MIG) recently announced that preparations are in progress for the launch of the flight operations of Olympic Air.
Posted On 08 Jul 2009
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Olympic Airlines Q400 Aircraft
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Olympic Goes Through Revamp Process

Olympic Airline's owners, Marfin Investment Group (MIG), announced the designers of the carrier's new cabin crew uniforms last month.
Posted On 01 Jul 2009
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State Sells Olympic Airlines

Marfin Investment Group sealed a deal with the Greek government and will buy Olympic Airlines now that the European Commission gave the green light for the sale and a joint ministerial privatization committee approved the deal.
Posted On 01 Apr 2009
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