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Greece Trying To Privitize Olympic  
User currently offlineATLFlyer323 From United States of America, joined Jan 2005, 620 posts, RR: 0
Posted (9 years 10 months 3 weeks 9 hours ago) and read 2754 times:

Heres the link:

http://www.forbes.com/business/commerce/feeds/ap/2005/02/02/ap1799773.html

feedback, do you think that anybodies going to do it, and do you think the airline will survive??

Thanks,
Brandon Makrides (Yaaaa go Greece)


Everyday, the fluffy temptation of wheat!
32 replies: All unread, showing first 25:
 
User currently offlineIakobos From Belgium, joined Aug 2003, 3316 posts, RR: 34
Reply 1, posted (9 years 10 months 3 weeks 8 hours ago) and read 2719 times:

http://www.forbes.com/business/commerce/feeds/ap/2005/02/02/ap1799773.html

User currently offlineOzGlobal From France, joined Nov 2004, 2732 posts, RR: 4
Reply 2, posted (9 years 10 months 3 weeks 8 hours ago) and read 2705 times:

I hope someone does something to Olympic. Greece needs a decent airline and Olympic ain't one in good shape!

To illustrate, I once discussed with our coporate travel manager the fact that EgyptAir had very cheap fares Oz - Europe, but added that I wouldn't feel safe on that carrier. Her reply was, "l'd fly Egypt before I'd fly OLYMPIC!!!"

Say no more...

[Edited 2005-02-04 22:57:59]


When all's said and done, there'll be more said than done.
User currently offlineIakobos From Belgium, joined Aug 2003, 3316 posts, RR: 34
Reply 3, posted (9 years 10 months 3 weeks 8 hours ago) and read 2703 times:

http://www.athensnews.gr/athweb/nathens.print_unique?e=C&f=13109&m=A16&aa=1&eidos=S
This is a better one.
Note that the tender is officially not open yet, in other words, a sufficient number of serious bidders has not been found yet, or perhaps none at all.


User currently offlineChiguire From Venezuela, joined Sep 2004, 2005 posts, RR: 16
Reply 4, posted (9 years 10 months 3 weeks 8 hours ago) and read 2695 times:

I have a 20 year old sofa... maybe I can find someone who buys it...

User currently offlineAmirs From Israel, joined Dec 2003, 1333 posts, RR: 4
Reply 5, posted (9 years 10 months 3 weeks 8 hours ago) and read 2686 times:

They should learn from El AL, First step hire Mckinsey for consulting and reorganizing.



User currently offlineATLhomeCMH From United States of America, joined Dec 2003, 770 posts, RR: 3
Reply 6, posted (9 years 10 months 3 weeks 7 hours ago) and read 2671 times:

to privatization then einai kala. ospou na pethano tha to fonazo.


"The most terrifying words in the Engligh language are, 'I'm from the government and I'm here to help.'"-Ronald Reagan
User currently offlineTango-Bravo From United States of America, joined Jun 2001, 3806 posts, RR: 29
Reply 7, posted (9 years 10 months 3 weeks 7 hours ago) and read 2658 times:

feedback, do you think that anybodies going to do it, and do you think the airline will survive??

As for Olympic ever being privatized, it will probably be another "Alitalia" -- where stated intentions are confused with concrete action. Which is why Alitalia remains a non-privatized basket case 5 years after it was to have been privatized. I can easily see the same happening with Olympic. The airline will survive as long as someone, namely the Greek government, remains willing to prop up Olympic with state aid and continues to find ways to circumvent supposed EU prohibitions against such subsidies.


User currently onlineOzarkD9S From United States of America, joined Oct 2001, 5231 posts, RR: 21
Reply 8, posted (9 years 10 months 3 weeks 5 hours ago) and read 2617 times:

Didn't BA try to do something with OA, only to pull out after realizing it was a hopeless money pit?




The best IFE: A window seat and a good book.
User currently offlineAir2gxs From , joined Dec 1969, posts, RR:
Reply 9, posted (9 years 10 months 3 weeks 4 hours ago) and read 2603 times:

ATL, why is privitization not a good idea?

I've flown Olympic many times and I never know which airline I'm going to be traveling with. Will it be the Olympic with that leaves late with crappy service? Will it leave ontime, with fair service? Will some of the employees randomly strike?

At least if they are owned by some private entity, they may get consistent.


User currently offlineSNATH From United States of America, joined Mar 2004, 3247 posts, RR: 22
Reply 10, posted (9 years 10 months 3 weeks 4 hours ago) and read 2598 times:

I'm Greek too and I can't even remember a time when the Greek government was not trying to privatise Olympic. Well, good luck to them.

"l'd fly Egypt before I'd fly OLYMPIC!!!"

This is total crap. The Olympic safety record is, in fact, very good. Their service and punctuality is another matter... but it's unfair to bash their safety record based on that.

Tony

[Edited 2005-02-05 03:16:02]


Nikon: we don't want more pixels, we want better pixels.
User currently offlineATLFlyer323 From United States of America, joined Jan 2005, 620 posts, RR: 0
Reply 11, posted (9 years 10 months 3 weeks 4 hours ago) and read 2593 times:

I seem to think that it wont go under. As a greek I know that they tend to hold there..well anything very high up. I dont know if they would let there countries airline fail, thats just not greek to me.

thanks,
Brandon Makrides (yaaaa go Geece)



Everyday, the fluffy temptation of wheat!
User currently offlineOlympicbis From , joined Dec 1969, posts, RR:
Reply 12, posted (9 years 10 months 2 weeks 6 days 20 hours ago) and read 2527 times:

" I'd fly Egypt before I'd fly Olympic"
As far as safety is concerned, just tell your coporate travel manager to better document herself about the number of crashes Egyptair has suffered compared to Olympic before she makes up her mind... We all know about the bad service one can sometimes experience on Olympic - and which I did too, which is why I do not fly them anymore. But as far as safety is concerned, Olympic performs as well if not better than any other established European carrier, including Air France, my dear OzGlobal..... Their technical Department is worldwide known for its quality, has any certification you may want to have and services many other airlines.


User currently offlineDC10Tim From United Kingdom, joined Jan 2005, 1406 posts, RR: 14
Reply 13, posted (9 years 10 months 2 weeks 6 days 19 hours ago) and read 2504 times:

OzarkD9S,

I was thinking the same when I read this thread.

Here is a link to what I've found.

http://www.brescom.clara.net/Documents/Ba_Olympic.mht

Tim.



Obviously missing something....
User currently offlineIakobos From Belgium, joined Aug 2003, 3316 posts, RR: 34
Reply 14, posted (9 years 10 months 2 weeks 6 days 19 hours ago) and read 2498 times:

OzGlobal,

That's simply a very poor and unjust call.
If there is something at Olympic, old or new, that has consistently worked very well, it is precisely Olympic Technics.
In terms of a/c maintenance their record is among the very best.

Give credit where it is due.

....and I am not Greek...


User currently offlineOzGlobal From France, joined Nov 2004, 2732 posts, RR: 4
Reply 15, posted (9 years 10 months 2 weeks 6 days 18 hours ago) and read 2469 times:

I once discussed with our coporate travel manager the fact that EgyptAir had very cheap fares Oz - Europe, but added that I wouldn't feel safe on that carrier. Her reply was, "l'd fly Egypt before I'd fly OLYMPIC!!!"

She didn't clarify her specific reasons, but I assumed it was 'all factors considered'. I can see why you thought I was targeting safety, but her comment was on overall quality of service I should think.



When all's said and done, there'll be more said than done.
User currently offlineTOLtommy From United States of America, joined Dec 2003, 3308 posts, RR: 5
Reply 16, posted (9 years 10 months 2 weeks 6 days 14 hours ago) and read 2424 times:

Didn't the union groups oppose this in the past, and get the government to withdraw from previous plans to privatise? I believe when BA was kicking the tires, they realized there would be a lot of job cuts. OA employees didn't like the thought of losing their jobs, even if the airline was overstaffed. Better to remain a government employee.

User currently offlineSNATH From United States of America, joined Mar 2004, 3247 posts, RR: 22
Reply 17, posted (9 years 10 months 2 weeks 6 days 14 hours ago) and read 2412 times:

Concerning OA and BA: I believe BA also made some "interesting" calls too, i.e. wanting to off-load some of their old B757s to OA, apparently without a feasibility study. So, despite the fact that I'm no fan of OA's unions, they did have some valid complaints about BA's involvement.

Tony



Nikon: we don't want more pixels, we want better pixels.
User currently offlineSwisswings From Switzerland, joined Feb 2005, 60 posts, RR: 1
Reply 18, posted (9 years 10 months 2 weeks 6 days 12 hours ago) and read 2388 times:

Frankly speaking, I think that the times of Olympic are gone. It is astonishing to see how many European airlines of poor quality and customer service are still flying today thanks to the aid of their own government while others went out of service despite of high quality but because of poor management.
Maybe the Greeks, as other Europeans, e.g. the Swiss, will have to start thinking of a time without a "flag carrier". They will survive. I prefer this to a situation where a flag carrier with bad service and reputation is kept alive with tax payer's money that could be better invested. Yassu, Olympic.


User currently offlineBCAL From United Kingdom, joined Jun 2004, 3384 posts, RR: 15
Reply 19, posted (9 years 10 months 2 weeks 6 days 11 hours ago) and read 2365 times:

One wonders why Stelios has not yet created a new Greek airline like easyOlympic. He has the resources, the experience and contacts.




MOL on SRB's latest attack at BA: "It's like a little Chihuahua barking at a dying Labrador. Nobody cares."
User currently offlineRamerinianAir From United States of America, joined Nov 2003, 1486 posts, RR: 0
Reply 20, posted (9 years 10 months 2 weeks 6 days 7 hours ago) and read 2317 times:

I am no expert in this field but, it seems that Alitalia and OA have similar problems. I think they need to keep it state oriented so that they can pass legislature to keep the unions in check/ keep them from getting to empowered.
.SR



W N = my Worst Nightmare!!!!!
User currently offlineBabybus From , joined Dec 1969, posts, RR:
Reply 21, posted (9 years 10 months 2 weeks 6 days 7 hours ago) and read 2320 times:

Olympic is run like a bad middle east airline. The management is all gov't senecures and the rest of the positions are jobs for mates and mates of mates only. Apparently you have to know someone in the compny before you can get a job.

You can't privatize Olympic, it would destroy the social fabric of the country.

It should be amalgamated into MEA, EL AL, Yemenia, Saudia or Iran Air where it could operate in the same way that it does now, within the same corporate culture.

It has a significant role but it ain't an airline that belongs in Europe.



User currently onlineOzarkD9S From United States of America, joined Oct 2001, 5231 posts, RR: 21
Reply 22, posted (9 years 10 months 2 weeks 5 days 15 hours ago) and read 2260 times:

BCAL:

Regarding Stelios: Think of the fun you could have marketing an airline called easyGreece!



The best IFE: A window seat and a good book.
User currently offlineIakobos From Belgium, joined Aug 2003, 3316 posts, RR: 34
Reply 23, posted (9 years 10 months 2 weeks 5 days 12 hours ago) and read 2235 times:

Update as of Feb 4, 2005

During the (extended) pre-tender period, 24 information packs have been (requested and) sent out by the advisors, Lazard Freres.
Over 20 firms have actually taken a look at what is on offer.
Out of these, it is expected that between 6 and 8 will actually bid.
These are Greek and Europeans firms and in all probability one US player.

For sure, Aegean Airlines will be one of the bidders (...and a strong one).
Who is the (probable) US one ? could be Chrysler Aviation, the charter company led by Greek/US Stelios Rapis, which was a previous bidder, but not sure.

Initial bids are due by Feb 9.
After the list has been issued in the very next days, the contenders will be invited to have a (good) look at the books. (Good luck guys !)
How many committed parties will remain after that ? my guess: 3 or 4.

One big uncertainty several months down the road is who will be liable for the fine that the EU will likely impose ? the airline of the Greek State ?

In any case, the (center-right) Greek government hopes to wrap-up the sell off by end of April.


User currently offlineLeelaw From , joined Dec 1969, posts, RR:
Reply 24, posted (9 years 10 months 2 weeks 5 days 12 hours ago) and read 2229 times:

"One big uncertainty several months down the road is who will be liable for the fine that the EU will likely impose ? the airline of the Greek State ?"

IMO, the Greek Government (Seller) will have to assume this contingent liability if they want to complete the sell off by the end of April.


25 Trintocan : A very interesting topic. It seems as though Greece is facing the same sort of problems with OA that the Caribbean nations have had with their respect
26 Iakobos : Leelaw, yes and no, the money went in the coffers of OA. Since the EU ruling will be announced later than the expected sell off, it remains a question
27 Mika10021 : Trintocan, Stelios is Greek but his parents are Cypriot.He was born in Athens. FYI, Stelios wouldn't have an airline in Greece unless it's a base for
28 Trintocan : Mika10021, thanks for that. In any case even if Stelios were solely Cypriot he would have no problem setting up shop in Greece as Cyprus is now an EU
29 Canuckpaxguy : I've flown on OA a few times in my day, (granted not since they picked up the 340s), and they're really not that bad. I hear their unions are too powe
30 0A340 : Let's face the facts: 30-years state management has not run a SINGLE year with operating profit. Cummulative losses can be compared in size with the c
31 Post contains images Iakobos : Thanks for your compassion 0A340, I could just argue about one thing since I pay my share also though I am not Greek: "at the EXPENSE of the TAX CONTR
32 0A340 : If there is a will, there is a way. I don't think that a privatisation that has to be made will not materialize because of short-term 'political cost'
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