Aegean Airlines (Athens) has made a surprise last-minute bid for state-owned Olympic Airlines (Athens). Aegean presented a bid of $113 million for the OA’s operations and $25 million for the ATH base. This new bid outbids the prevailing single bid by the Marfin Investment Group. Aegean also bid $75 million for the new Pantheon Airways set up as a paper airline by the government of Greece to take over OA’s operations debt-free. This move by Aegean is seen as a strategy to consolidate airline operations under one brand in Greece. Aegean has gradually been taking away market share from OA. If successful, which brand will survive?