They could have fitted the 732s with hush-kits at least. Living close to the airport I have to say that it hardly made any difference when LH started to fit their 732s with hush-kits, the 732 is loud with or without hush-kit. But at least OA would be officially *allowed* to keep on flying the 732. I'm sure if Aegean/Cronus had 732s, they would not get an exception of the rule.
Talking about falling demand: At least here in Germany, Olympic's biggest problem is the unsteadyness of demand. Beginning of the Easter holidays, hundreds of Greeks (who are living in Germany) want to travel from Germany to Greece, you could easily operate with A300. But only few people want to fly from Greece to Germany. Two weeks later, all the Greeks fly back to Germany, but the seats on the Germany-Greece flights remain empty. The same some weeks later for the Greek Easter holidays, Whitsun holidays, summer holidays, Christmas... the flights are always full in one direction, but totally empty in the other direction. But this just as a sidenote, sorry for getting a little off-topic