connect with us
Greece's latest tourism industry news by Greek Travel Pages

Draft Bill Gives OA Six-month Reprieve

The government drafted a bill last month that protects Olympic Airlines (OA) from its creditors and thus guarantees the airline's smooth operation for at least another six months. The draft amendment bars current or future creditors from taking any action against OA until the end...

Olympic Sale Still In the Air

Olympic Airlines, with a share capital of 130 million euros, has chalked up 107 million euros in losses since its setup as a new debt-free airline just a little better than a year and half ago.

Olympic Airlines’ Bids at 30 Million Euros

From the five bids government has received in an international sale tender for a majority stake in national carrier Olympic Airlines, it appears that government coffers will be lucky to get a cash settlement of about 30 million euros.

Five Bids for Olympic

The government has received five bids in an international sale tender for a majority stake in national carrier Olympic Airlines, according to a government announcement last month. The binding offers accompanied by letters of guarantee were from all groups that expressed interest...

Olympic Airlines Saga Ends This Month

Sometime this month, says the government, we will see the completion of the competition called by the previous government for the privatization of Olympic Airlines. Until then, there will be no changes in the airline's management, said Mihalis Liapis, Greece's transportation and...

A note by the publisher

The perpetual tale of Olympic Airways -- as of December 12, Olympic Airlines -- continues with no end in sight. Although the government says it has selected one of five potential bidders for further talks on a takeover of Olympic Airlines, the slimmed-down successor to heavily...

Olympic Airlines Takes Over Olympic Airways’ Traffic

Greece's national carrier, Olympic Airways, was officially transformed on December 12 into a slimmer, debt-free carrier under the name Olympic Airlines. After 28 years of public ownership, government now hopes to sell at least 51% of the "new" carrier to private investors....

HATTA Wins Ruling on Commission Fees

Greece's Competition Commission fined Greece's two biggest airlines, Olympic and Aegean, a total of 210,000 euros for complicity in reducing the commission paid to travel agents, from 9.25 percent to 6.94 percent, on tickets for domestic flights.

Olympic-Gulf Air Agreement for Athens-Sydney

Flights to Australia from Greece are to start again from November 23, nearly a year after they were suspended, thanks to a deal between Olympic Airways and Gulf Air, the managing directors of the two carriers announced in early September.

Air France-KLM Deal Just the Beginning

Air France's planned takeover of KLM Royal Dutch Airlines, which would create Europe's largest airline, may just be the beginning of a trend as airline carriers look to ways to cooperate and cut costs after two years of extensive losses.

Olympic Airways Becomes Olympic Airlines

Olympic Airways is about to be molded into slimmer carrier and renamed Olympic Airlines. The launch date of the new company has not been announced but is expected to follow soon after passage of the pertinent bill now in parliament.

Hellas Jet Up and Away Complete with Aegean Cooperation

When Cyprus Airways failed in its efforts to take over Olympic Airways back in 2001, it decided on a counter move and launched its own Athens-based carrier, Hellas Jet, which got off the ground on June 24. The new carrier hopes to undercut Olympic by 15 percent, says the...

Olympic Saga to Finish This Fall

One way or another, the government here says a permanent solution to long-lasting problems with state-owned Olympic Airways will be found and implemented before this winter rolls in. So far, according to a business plan leaked to Greek media, a new company, to be named New...

Hellas Jet Gets Operator’s License

Cyprus Airways subsidiary, Hellas Jet, picked up an air operator's license for Greece but is still waiting on a commercial license. Although the airline had hoped to begin flights on June 23, as we go to press there has been no further announcements as to when flights will begin.

Government Expects Minor Drop In Arrivals

Development Minister Akis Tsohatzopoulos during a recent press call said that Greek tourism is heading for recovery following the end of the war in Iraq. He said tourist arrivals will pick up pace later this year following the end of the war in Iraq and despite the threat posed...

Bids Called For The Sale Of Galileo Hellas

Greece's transport ministry announced a tender for the sale of a majority stake in Galileo Hellas. Tenders were to be accepted up until January 17.

Η αλαζονεία της αερομεταφοράς

Το 1944 η δημιουργία της ΙΑΤΑ εξυπηρέτησε την ανάπτυξη και μεγέθυνση των διεθνών αερομεταφορών με εφαρμογές (κανονισμούς) εναρμονισμένων πρακτικών, αλλά και ανοχή μονοπωλιακών και καταχρηστικών ενεργειών των αερομεταφορών, το δε 1957 η Συνθήκη της Ρώμης (σύσταση...

Subsidies For Olympic Aviation On Unprofitable Routes

Olympic's domestic subsidiary carrier, Olympic Aviation, gets some 10.3 million euros (3.5 billion drachmas) annually in government subsidies for operating flights to nine island destinations considered highly unprofitable.

Airport Ground Handling Companies Hit Financially

Airport ground handling companies here in Greece now suffer the same financial blows felt by airlines after the New York terrorism attack. Airlines, in an dire attempt to cut costs wherever possible, have made life unbearable for some independent companies, not least of which are...

Axon Airlines Grounded

Axon Airlines, which was bidding to buy national carrier Olympic Airways, announced the suspension of operations on November 30, citing an industry downturn and rising losses in the wake of the September 11 attacks on the United States.