Tag Archives: Aegean Airlines

Aegean makes a surprise bid for Olympic

ย 

Please click on photo for full view and caption.

Please click on photo for full view and caption.

Aegean Airlines (Athens) has made a surprise last-minute bid for state-owned Olympic Airlines (Athens). ย Aegean presented a bid of $113 million for the OA’s operations and $25 million for the ATH base. ย This new bid outbids the prevailing single bid by the Marfin Investment Group. ย 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. ย 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?