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Olympic Engineering To Close Next Month

0041Marfin Investment Group (MIG) recently announced the closure of Olympic Engineering, an Olympic Air subsidiary, as of 1 May, citing financial losses.

In 2012 the company’s losses amounted to 8.6 million euros.

If competition authorities give the green light for Aegean Airlines to acquire Olympic Air from MIG, the company is then just left with Olympic Handling.

According to Kathimerini newspaper, MIG will also seek compensation from Athens International Airport amounting to 43.5 million euros for breaking the contract OA had signed with the airport prior to its acquisition by Marfin Investment Group, when it was known as Olympic Airways.

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