Thursday March 5, 2009
Aegean Airlines joined the bidding for Olympic Airlines, offering a combined €170 million ($214.2 million) for OA's flight operations, MRO division and its successor company Pantheon. "The objective of Aegean and its shareholders is the creation of a more powerful Greek air company" that can compete with larger European airlines, the carrier said. It added that it would be able to take over OA within 60 days of signing a deal and that it was willing to cede some domestic routes in order to facilitate competition. US-based charter company Chrysler Aviation also reportedly reentered the bidding, joining Swissport and Greece's Marfin Investment Group, each of which is seeking specific pieces of OA
ATWOnline
Aegean Airlines joined the bidding for Olympic Airlines, offering a combined €170 million ($214.2 million) for OA's flight operations, MRO division and its successor company Pantheon. "The objective of Aegean and its shareholders is the creation of a more powerful Greek air company" that can compete with larger European airlines, the carrier said. It added that it would be able to take over OA within 60 days of signing a deal and that it was willing to cede some domestic routes in order to facilitate competition. US-based charter company Chrysler Aviation also reportedly reentered the bidding, joining Swissport and Greece's Marfin Investment Group, each of which is seeking specific pieces of OA
ATWOnline