The European Commission is due to approve a decision today to take the government to court again over its inability to get illegal state funding back from Olympic Airlines, in a move that could lead to Greece being fined 50,000 euros a day. Legal advisers yesterday gave the go-ahead for the Commission to take the […]
The cost of keeping Olympic in the air Greece risks receiving a hefty European Union fine (20,000 euros per day) that would, of course, be paid by the country’s taxpayers. The reason for this is that the current and previous governments have refused to solve a chronic problem which, according to reliable government sources, is […]
EU says Greece must apply court decision on Olympic Airlines aid ‘quickly’ 4/10/2006 12:47 London Time | story 0830 BRUSSELS (AFX) – The European Commission said Greece must apply “quickly” a ruling made by the EU”s highest court that the government recover aid illegally paid out to flag carrier Olympic Airlines “quickly” or face further […]
More Olympic news…. sort of good…..kind of…. Flight stewards at Olympic Airlines (OA) agreed yesterday to resume normal working hours, ending a three-day period in which some 60 flights were canceled due to flight attendants’ refusal to work overtime. After a lengthy meeting with the airline’s management, the stewards said that they have agreed to […]
From the Greek Newspaper Kathimerini This probably won’t instill too much confidence…. Messing up with small and big alike John Kenneth Galbraith’s congratulations to John F. Kennedy for the latter’s election victory came with a warning: “The state,” the late economist said, “is the kind of organization which, though it does large things badly, does […]
Sabre Aviation Consulting Services was contracted by the Greek government to find investors and develop a business plan for an airline to replace troubled Olympic Airlines, aiming to start operating this fall. The new carrier will probably be called Pantheon Airways. The government will be a minority shareholder of the new carrier. Pantheon should be […]
ATHENS (Reuters) – Olympic Airways will be succeeded by a new company that will take over its flights if Greece’s troubled carrier is forced to shut down by its debts, Finance Minister George Alogoskoufis told Reuters on Thursday. The European Union has ordered Greece to recover hundreds of millions of euros in illegal state aid […]