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22.02.2010 23:26
Aegean Airlines and Olympic air will merge
The new company will be the major greek airline

  • © Andrei Dimofte

The main shareholders of AEGEAN AIRLINES and OLYMPIC AIR have reached a agreement regarding the merger of the two companies. The company that will be formed as a result from the merger will carry the name and logos of Olympic air. The name and logos of Aegean will be used in parallell during the necessary transition and adjustment period.
The agreement is subject to the approval of the European Competition Commision, which is the relevant competent authority given the size and particular terms of the transaction. According to the terms of the agreement, the main shareholder of Aegean (Vassilakis Group) and the sole shareholder of Olympic air (Marfin Investment Group) will have an equal shareholding in the combined entity.
Aegean Airlines has a fleet of 32 planes 4 A321, 18-A320, 4-B737-400 (under redelivery process), 6 RJ Avro 100. The company serves 24 domestic and 26 international destination.
Olympic Air was formed one year and half ago after the bankruptcy of the national carrier Olympic Airlines. The fleet consists of 32 planes: 9 A320, 8 319, 10 turboprops Bombardier Q400 and 5 the small variant of Dash Q8-100. Olympic air serves 41 domestic and 15 international routes. The two companies will take 90% of greek market.

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