Archive for December, 2006

Greece’s Olympic Airlines wins cash reprieve from court

Friday, December 22nd, 2006

I guess this is temporary good news…..but they still owe a few hundred million dollars to the government…. that’s a lot of tickets to Mykonos that they have to sell! The Associated PressPublished: December 20, 2006 ATHENS, Greece: A Greek court Wednesday awarded struggling national carrier Olympic Airlines €563.9 million ($744.5 million) in compensation for […]

Olympic Airlines Loss widens!

Sunday, December 10th, 2006

ah oh…….. not good news for Olympic! December 10, 2006 Greece’s ailing state carrier Olympic Airlines, posted a net loss of EUR123.7 million (USD$163.4 million) for 2005, based on financial statements published in Greek newspapers. The European Commission is in a legal battle with Greece over subsidizing the loss-making carrier in the past. In October […]