Olympic Air, Aegean Airlines In Talks For A Possible Merger? - www.capital.gr
Olympic Air, Aegean Airlines In Talks For A Possible Merger?
Olympic Air and Aegean Airlines confirmed a ‘Kerdos’ financial daily report that they are in talks on a future cooperation.
In reality, this could only mean the prospect of a possible merger.
Olympic Air is a strong brand name and Aegean a successful business model, based on the declining state-run airlines. Now that Olympic Air is under MIG’s umbrella, the rules of the game have changed, given that Greece is a small market for two players.
MIG’s official announcement reads as follows:
“Commenting on an article published today on the Greek press, we would like to inform the following:
Discussions between the main shareholders of OLYMPIC AIR and AEGEAN AIRLINES have taken place concerning the potential of a future cooperation.
However, at this time there is nothing specific to be announced.”
Not a lot of information yet, but it should all be done by 2011 .. just waiting to see which management will be in charge ...