Aegean Airlines And Olympic Air Merger

Shares in Marfin Investment Group MIG which owns Olympic Air advanced 054 percent to 186 euros paring earlier gains of around 4 percent. 11 The creation of the new Olympic that is Olympic Air the company created in 2009 and subject to.

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Although a previously proposed merger of the two was blocked by the Commission in early 2011 its analysis now indicates that Olympic would go broke in the near future if it were not acquired by Aegean.

Aegean airlines and olympic air merger. On 9-Oct-2013 the European Commission EC approved the acquisition of loss-making Olympic Air by loss-making Aegean Airlines. Book your flight to Athens Greece and Europe with Aegean Airlines the largest Greek airline. 321 2008 - Olympic Airlines N 322 2008 - Olympic Airways Services first part and N 323 2008 - Olympic Airways Services second part OJ C 18 23012010 p9.

Olympic Airlines the private re-incarnation of the defunct Olympic Airways has competed talks with Greek rival Aegean Airlines for a proposed merger. The ticket number consists of 13 digits and you can find it in the booking confirmation e-mail. Athens October 23 2013 AEGEAN announces today that it has signed a definitive agreement with MARFIN INVESTMENT GROUP to acquire Olympic Air.

Visit our low fare calendar for the best deals on flights. The Commissions in-depth investigation has shown that Olympic Air would be forced to exit the market in the near future due to financial difficulties if not acquired by Aegean. Under the 72m 62m deal Olympic will become a subsidiary of Aegean Greeces largest airline after the European commission concluded the merger was the only way of.

Olympic Air is mostly owned by Dubai sponsored MIG group w. Online check-in is available 48 hours to 30 minutes prior to scheduled time of departure. The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Olympic Air by Aegean Airlines both Greek air carriers.

Aegean or the Notifying Party intends to acquire within the meaning of Article 31b of the Merger Regulation sole control over Olympic Air SA. The European Commission said Friday that it would deepen its investigation of the proposed merger of Olympic Air and Aegean Airlines saying a preliminary inquiry had shown the deal could raise serious competition concerns The merged entity would have very high if not monopolistic market shares on all domestic routes and on a number of international routes where both parties. Aegean Airlines is a publicly listed Greek airline company while Olympic is the Greek flag carrier and the successor to state-owned Olympic Airways later known as Olympic Airlines.

Brokers agreed that the move would be in the interests of Aegean Airlines facing intense competition from recently privatized OA but noted that there are a number of competition issues are raised. Enjoy convenient online check-in travel extras and in-flight entertainment. October 9 2013 The merger of Olympic Air and Aegean Airlines symbolizes the end of a whole era.

Together with Aegean the Parties or the Merged. Regulation EC No 1392004 the Merger Regulation a proposed concentration by which Aegean Airlines SA. The transfer of 100 of Olympic Air shares was completed the same day.

The consideration of 100 of Olympic Air has been set at 72 million euros in cash to be paid in installments. Based on scheduled ASKs Available Seat Kilometres in October Aegean is 10 times larger than Olympic. Unsuccessful in its bid to purchase Olympic Air from the Greek government last year Aegean Airlines yesterday announced a merger designed to create a national airline champion with enlarged presence in the European market as well as seamless coverage of even the most remote islands of our country.

At one time the proposed merger between Greek carriers Aegean Airlines and Olympic Air might have seemed like a marriage of equals but the current reality is quite different. MilesBonus - Official Website.

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