Still awaiting approval. Until then nothing will happen.
AEGEAN agrees with MIG to acquire OLYMPIC AIR
Aegean Airlines and Marfin Investment Group agreed today on the sale of 100% of Olympic Air to Aegean.
Following the completion of the transaction, Olympic Air will become a subsidiary of the listed Aegean. The brand names and logos of the two companies will be maintained and each will have distinct aircraft and flight staff. The unification of administrative, planning, purchasing and commercial functions will lead to substantial economies of scale, in buying power and elimination of duplicate systems. Fleet usage and network planning will be optimized to improve efficiencies and connectivity while improving coverage and product offer.
The deal is subject to approval by the Competition Authorities, a process which will also determine the timing of its execution.
As for longhaul we will not see that anytime soon. QR
will have the market and it would be very difficult for A3
to enter the market and make a profit once QR
get established. Maybe they will do a codeshare with QR
Qatar Airways has confirmed it will launch direct scheduled flights from Athens to New York from the middle of 2013.
As reported last week (click here), the airline will capitalise on fifth freedom rights on the new route, dovetailing with its Doha-Athens flights, which the airline claims is the premier intercontinental passenger route through the Greek capital. However, precise details of timings, schedules and aircraft type have yet to be uploaded into the airline's booking system.
Qatar started flights to Athens in 2004, increased them to double daily three years ago and continues to report strong demand, despite the Greek financial crisis.