Saturday December 8, 2007-Transport Minister Costis Hatzidakis said yesterday that state-owned Olympic Airlines cannot be saved in its present form and should be replaced with a new company, as efforts for debt settlement with the European Union looked set for failure. «We want to transfer (OA’s) name, logo and air slots to a new entity,» […]
The Greek government sees Sabena “solution” as the only solution to Olympic Airways (Greece’s national carrier) “problem”, as it aims to close the airline until 2008. The government’s new plan wants to create a new smaller airline which is going to be sold to a private company immediately after the closure of Greece’s national carrier. […]
ATHENS, Dec 7 (Reuters) – Greece said on Friday a rescue of its ailing Olympic Airlines was unlikely but the state company could shut down and reopen debt-free. “Our first aim is to rescue the airline exactly as it is but this is not the most likely scenario,” Transport Minister Kostis Hatzidakis told parliament. “A […]
The Greek government is considering the closing of the Airline company Olympic Airlines, the Greek daily Ta Nea reports. Since Brussels continues to insist that the company returns to the state the subsidies it has been allotted /about EUR 500 Million/, the government is considering options to solve the problem. According to the information, the […]
Greece’s transport minister has warned that national carrier Olympic Airlines faces a dim future as speculation increases that the airline will be closed within a few months. In a series of carefully worded statements late Friday and over the weekend, Costis Hadzidakis reaffirmed the government’s commitment to keep the airline aloft. But he also stressed […]
Fri Nov 30, 2007 4:04 PM GMT ATHENS, Nov 30 (Reuters) – Ryanair’s (RYA.I: Quote, Profile , Research) lawsuit against the European Commission over its failure to make Olympic Airlines [OLY.UL] pay back state aid will discourage any investors interested in the airline, Greece said on Friday. Greece has been trying to privatise the airline, […]
Ryanair Holdings PLC filed a lawsuit Thursday against the European Commission — its third such action this month in complaints challenging funding of national airlines by European governments. In its latest suit, Ryanair accused EU competition authorities of failing to investigate €500 million (US$740 million) in money paid by the Greek government to Olympic Airlines. […]