Globe Merchant Travel Blog

International Weekend Getaway Fares

Travel Dates & Times for Weekend Getaway Fares

George Town, Bahamas (GGT) Miami, FL (MIA) $79^
Miami, FL (MIA) Bridgetown, Barbados (BGI) $155^
Miami, FL (MIA) Lima, Peru (LIM) $138^
Miami, FL (MIA) San Pedro Sula, Honduras (SAP) $75^
Miami, FL (MIA) San Salvador, El Salvador (SAL) $175^
Miami, FL (MIA) Santa Cruz, Bolivia (VVI) $248^
Miami, FL (MIA) St Maarten, Netherlands Antilles (SXM) $164^
Miami, FL (MIA) St. Lucia, British West Indies (UVF) $154^
Miami, FL (MIA) Tegucigalpa, Honduras (TGU) $125^
Chicago O’Hare, IL (ORD) Frankfurt, Germany (FRA) $174^
Prices above are each way, based on round-trip purchase.
Taxes, fees and conditions apply.

*U.S. And Canada Fares For Next Weekend
Purchase by Friday, March 13, 2009.
Travel is valid 3/20/09 through 3/24/09.
Taxes, fees and conditions apply.

Visit www.aa.com/netsaaver for additional fare offers for this weekend and other travel dates.

By Maria Petrakis

March 7 (Bloomberg) — 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 and maintenance base “ended successfully,” Development Minister Kostis Hatzidakis said in an e-mailed statement early today. The negotiations have been extended for a week so talks between Marfin, Swissport and the advisers on a sale of the ground-handling division can also be completed, Hatzidakis said.

If the deal is successfully completed, the state will receive 177 million euros ($224.4 million) from the sale, according to Hatzidakis. The sale, which is subject to European Union approval, will avert the closure of an airline that links the mainland and hundreds of Greek islands, playing a critical role in the country’s tourism and transport infrastructure.

Plagued by regulatory and union disputes, successive Greek governments have struggled to sell the carrier. Greece got EU approval in September to sell Olympic and its ground-handling and maintenance-service units separately in an effort to end years of regulatory disputes over subsidies. That sale was called off after offers were deemed too low.

Marfin Invest, Greece’s biggest buyout fund, emerged as a candidate for Olympic after a government appeal to save the airline. Aegean Airlines SA, Olympic’s biggest Greek rival, made a counter-bid of 170 million euros for the company on March 4.

Founded in 1957 by shipping magnate Aristotle Onassis, Olympic Airlines was acquired by the state in the 1970s. It has cost taxpayers more than 2 billion euros in the past decade.

To contact the reporter on this story: Maria Petrakis in Athens at mpetrakis@bloomberg.net

Aegean Airlines, which on Wednesday submitted a bid for the purchase of Olympic Airways, on Friday announced that it will freeze ticket fares for domestic flights until 2010 if negotiations with the Greek government over OA’s acquisition lead to a deal.

In an announcement, Aegean Airlines reiterated that its primary motivation in submitting a proposal for the state-run carrier is to create a “national ‘champion” that will preserve the name Olympic and that will merge both companies’ strong points.

Referring to the ground services unit, for which Aegean has not submitted a bid, the announcement notes that “when such a necessity occurs, Aegean can, in a few days and in cooperation with Goldair, with which it has already begun negotiations, submit a proposal that will guarantee a reliable solution.”

International Herald Tribune
ATHENS, Greece: Greece’s Aegean Airlines on Wednesday offered €170 million ($214 million) to buy debt-ridden state carrier Olympic Airlines.

The offer came a month after the conservative government made a public appeal for investors to rescue Olympic, following a previous tender that failed to attract sufficiently high bids.

State television said U.S.-based Chrysler Aviation also submitted a €210 million offer for Olympic on Wednesday. Greece’s Marfin Investment Group, or MIG, and Swissport have already tabled separate bids.

Development Minister Costis Hadzidakis welcomed the new bids, which he said would be duly examined.

Aegean, which is Olympic’s main competitor in Greece’s domestic routes, said it was interested in buying the carrier’s flight operations, technical maintenance and a company set up by the government to succeed Olympic.

An Aegean statement said it was prepared to “concede part of its domestic operations, in order to further strengthen competition.”

Responding to the government’s appeal last month, MIG offered a total €62.4 million for Olympic’s flight operations and technical maintenance. Swissport has also submitted a binding €44.8 million bid for Olympic’s ground handling services.

The government wants to liquidate Olympic — which has accumulated losses of around €2.7 billion ($3.41 billion) — and transfer most of its 8,100 staff to other public sector jobs. The new company will keep the Olympic name and logo.

Last year, the European Union approved Greece’s plan to break up and fully privatize Olympic by the end of 2009.

For years, Greece subsidized the struggling national airline, which in 2001 had debts totaling some €120 million ($151.4 million). In 2003, the government incorporated the assets of debt-ridden Olympic Airways and two subsidiaries into the renamed Olympic Airlines.

Each Way From To

Phoenix, AZ Mazatlan, Mexico $55
Los Angeles, CA Mazatlan, Mexico $95
Denver, CO Mazatlan, Mexico $100
San Francisco, CA Mazatlan, Mexico $125
Las Vegas, NV Mazatlan, Mexico $130
Philadelphia, PA Paris, France $145
New York, NY (LGA) Paris, France $145
Phoenix, AZ Paris, France $210
Boston, MA Paris, France $210
Charlotte, NC Paris, France $220

More International USAir e-savers……

Deal expected to be finalised Thursday

* Agreement to be settled at meeting with govt officials

(Adds background, quotes)

ATHENS, March 3 (Reuters) – Greece’s biggest buyout company Marfin Investent Group (MIG) (MRFr.AT) expects to close a deal to acquire the troubled Olympic Airlines from the Greek government this week, a senior MIG official said on Tuesday.

A deal to sell the loss-making carrier will end strains on the government’s budget and wrangling with the EU over illegal subsidies.

MIG came forward in early February after an international tender expired in January without satisfactory offers.

“We are close to a deal, which is expected to be finalised this Thursday at a meeting with government representatives,” the MIG source said.

A government official, who declined to be named, also told Reuters the two sides were close to reaching a deal.

“There is no other candidate buyer for the flying operations of Olympic,” said the official, who declined to be named.

The government appealed to Greek businesses last month to step in after a tender to privatise the ailing carrier failed to attract big names or high bids as the global crisis hits the airline sector.

Greece has wrangled for years with Brussels over state aid to Olympic. Its latest attempt to sell the airline was approved by the European Commission, which agreed to suspend action over illegal state aid if the sale went ahead.

Athens split Olympic into three units — flying, ground handling and aircraft maintenance — last September to facilitate the sale.

Marfin submitted a 45.7 million euro bid in mid-February for Olympic’s flying operations and 16.7 million for its technical base, the government said. Swissport, a subsidiary of Spain’s Ferrovial (FER.MC),bid for the ground handling unit.

Founded in 1957 by the late shipping tycoon Aristolte Onassis, Olympic steadily declined after decades in state hands. (Reporting by Lefteris Papadimas; Writing by George Georgiopoulos; Editing by David Holmes)

International Weekend Getaway Fares

Travel Dates & Times for Weekend Getaway Fares

Miami, FL (MIA) Kingston, Jamaica (KIN) $80
Miami, FL (MIA) London Heathrow, United Kingdom (LHR) $179
Miami, FL (MIA) Oranjestad, Aruba (AUA) $135
Miami, FL (MIA) Port of Spain, Trinidad (POS) $99
Miami, FL (MIA) Santiago, Chile (SCL) $285
Chicago O’Hare, IL (ORD) Atlanta, GA (ATL) $61
Chicago O’Hare, IL (ORD) Manchester, United Kingdom (MAN) $164
Chicago O’Hare, IL (ORD) Montreal, QC (YUL) $128
Chicago O’Hare, IL (ORD) Philadelphia, PA (PHL) $69
Dallas / Ft. Worth, TX (DFW) Little Rock, AR (LIT) $66
Prices above are each way, based on round-trip purchase.
Taxes, fees and conditions apply.

Visit www.aa.com/netsaaver for additional fare offers for this weekend and other travel dates.