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rossyboy
Topic Author
Posts: 68
Joined: Wed Oct 27, 2004 11:08 pm

Olympic's A340s

Mon Jun 06, 2005 8:36 am

Hi Everyone,
As I am half Greek and have posted before, I now have a question for anyone more experienced than me in the forum. Does Olympic Airlines (nee Airways) own its four A340-300 aircraft or are they leased from some sort of leasing company?  confused  The aircraft in question are SX-DFA, SX-DFB, SX-DFC and SX-DFD (MSNs 235 239 280 292). Many thanks.

By the way, I have noticed that two of their A300-605R aircraft have been sold to Iran Air. Such a pity for aircraft so long in it's fleet.  crying 

P.S. I hear Olympic's closing soon. Anyone can confirm?

Thanks!

Rossyboy
Ross X
 
CXYYZ
Posts: 177
Joined: Sun Mar 20, 2005 4:36 pm

RE: Olympic's A340s

Mon Jun 06, 2005 9:31 am

If I'm remembering correctly, the A340s are leased.

OA is in the process of being sold off by the government. If the sale fails, then there have been indications that it will be shut down.
 
kaneporta1
Posts: 742
Joined: Wed Jun 01, 2005 12:22 am

RE: Olympic's A340s

Mon Jun 06, 2005 10:27 am

All of Olympic's A340s are owned by the company and were delivered in 1999. There was also an option for 2 more which never materialized.
2 out of 3 A300s were indeed sold to Iran Air and although the only remaining A300 is the one aquired most recently, it's actually older than the other two. I guess they got a better deal for the newer birds.
OA has been in the process of being sold or closing for about a decade now and I don't really see this ending anytime soon. It will be a shame if it closes down, not because of its history and safety record, but which other airline has 34" pitch in economy and offers complementary meals on flights as short as an hour and a half? And by complementary meal, I don't mean a stale sandwich and OJ, i'm talking about the best dining available at 35000 feet.
I'd rather die peacefully in my sleep, like my grandfather, not terrified and screaming, like his passengers
 
6thfreedom
Posts: 2641
Joined: Thu Sep 30, 2004 11:09 am

RE: Olympic's A340s

Mon Jun 06, 2005 10:36 am

yes, all 4 A340's are owned by OA.

Quoting Kaneporta1 (Reply 2):
but which other airline has 34" pitch in economy and offers complementary meals on flights as short as an hour and a half? And by complementary meal, I don't mean a stale sandwich and OJ, i'm talking about the best dining available at 35000 feet

The only other one I could think of was TG...  Wink
 
CXYYZ
Posts: 177
Joined: Sun Mar 20, 2005 4:36 pm

RE: Olympic's A340s

Mon Jun 06, 2005 12:29 pm

Quoting Kaneporta1 (Reply 2):
Olympic's A340s are owned

Thanks for the correction Kaneporta.
 
RCS763AV
Posts: 3869
Joined: Mon Jun 14, 2004 1:22 am

RE: Olympic's A340s

Mon Jun 06, 2005 1:27 pm

Quoting Kaneporta1 (Reply 2):
but which other airline has 34" pitch in economy and offers complementary meals on flights as short as an hour and a half?

TG
AV
B6
SQ
MH


And the list goes on....you know OA does not have the greatest reputation.
 
6thfreedom
Posts: 2641
Joined: Thu Sep 30, 2004 11:09 am

RE: Olympic's A340s

Mon Jun 06, 2005 1:37 pm

Quoting RCS763AV (Reply 5):
TG
AV
B6
SQ
MH


And the list goes on....you know OA does not have the greatest reputation.

I think SQ fails in the 34 inch pitch in economy area.
MH is definately up there!
 
iakobos
Posts: 3255
Joined: Wed Aug 06, 2003 6:22 pm

RE: Olympic's A340s

Mon Jun 06, 2005 6:57 pm

Quoting Rossyboy (Thread starter):
As I am half Greek and have posted before

Nobody is perfect, no big deal there.  Wink

Quoting Rossyboy (Thread starter):
I hear Olympic's closing soon. Anyone can confirm?

Well, if I kept track correctly, the FOR SALE posters are adorning OA's windows for the fifth time in 7 (?) years.
It looks as if the present effort is also the ultimate possibility, it is either sold or
buried.
 
SXFAN
Posts: 358
Joined: Sat Jan 17, 2004 2:20 pm

RE: Olympic's A340s

Mon Jun 06, 2005 7:36 pm

Well a more updated research on OA's A340s indicates that these birds are owned not by OA but by the Greek government that paid the outstanding debts on behalf of Olympic several years ago and lent the aircraft to OA for its longhaul routes.... Again the "Greek" way of doing things prevailed...
Now about OAs future. Well i thing that this time is sure that by October mid November OA will be sth of the past and i don't know if i have to be happy or sad. It will depend on the successor.
I hope that this helped.
Cheers
Vasilis.

p.s. Kaneporta1 welcome to A.net

[Edited 2005-06-06 12:37:37]
 
iakobos
Posts: 3255
Joined: Wed Aug 06, 2003 6:22 pm

RE: Olympic's A340s

Mon Jun 06, 2005 9:08 pm

Quoting SXFAN (Reply 8):
Well i thing that this time is sure that by October mid November OA will be sth of the past

Did I miss some breaking news this morning ?
Last I heard was that three (possibly only two) bidders are still in negotiations and that a final outcome is expected in the next days.
Note that the three/two offers call for very different terms and business plans.
 
0A340
Posts: 267
Joined: Tue Nov 21, 2000 3:10 am

RE: Olympic's A340s

Tue Jun 07, 2005 12:23 am

Quoting SXFAN (Reply 8):
Well a more updated research on OA's A340s indicates that these birds are owned not by OA but by the Greek government that paid the outstanding debts on behalf of Olympic several years ago and lent the aircraft to OA for its longhaul routes.... Again the "Greek" way of doing things prevailed...

A bit complicated. They have been ordered directly and are owned by OA, but not paid off. The bank loan used for the purchase now bears a guarantee by the Greek Government, that is, the Greek Taxpayers.

As for the sole remaining A306R, SX-BEM it is on lease, not owned. Recently is on some maintenance, because it does not appear flying.

George
 
LifelinerOne
Posts: 1626
Joined: Tue Nov 25, 2003 10:30 pm

RE: Olympic's A340s

Tue Jun 07, 2005 2:26 am

Quoting Kaneporta1 (Reply 2):
It will be a shame if it closes down, not because of its history and safety record, but which other airline has 34" pitch in economy and offers complementary meals on flights as short as an hour and a half? And by complementary meal, I don't mean a stale sandwich and OJ, i'm talking about the best dining available at 35000 feet.

Hmm... I see where's the money is flowing out unnecessary...  Smile

Cheers!  wave 
Only Those Who Sleep Don't Make Mistakes
 
olympic707
Posts: 193
Joined: Tue Dec 28, 2004 5:12 am

RE: Olympic's A340s

Tue Jun 07, 2005 4:17 am

Quote:
It will be a shame if it closes down, not because of its history and safety record, but which other airline has 34" pitch in economy and offers complementary meals on flights as short as an hour and a half? And by complementary meal, I don't mean a stale sandwich and OJ, i'm talking about the best dining available at 35000 feet.

Very true, but the most important thing is their safety record.  bigthumbsup 
OA will be missed if it goes under, I hope they will be around for my trip to Greece this October.

Yanni
Fly Olympic - Aviation GREEK STYLE!
 
cedarjet
Posts: 8910
Joined: Mon May 24, 1999 1:12 am

RE: Olympic's A340s

Tue Jun 07, 2005 4:23 am

While the cabin crew may be surly, the food is pretty awesome (big quantities as well!) and the safety record is perfect - while they might have had a couple of accidents with little prop planes, the jets haven't had a scratch put on them since the airline got it's first Comet 4 in the 50s - and that includes half a century of longhaul flight across the pond, to Australia (very sad those days have ended), you name it.
fly Saha Air 707s daily from Tehran's downtown Mehrabad to Mashhad, Kish Island and Ahwaz
 
rossyboy
Topic Author
Posts: 68
Joined: Wed Oct 27, 2004 11:08 pm

RE: Olympic's A340s

Tue Jun 07, 2005 8:12 am

Yep...I most certainly do agree with the food. On the way to Amsterdam, they gave us some of the best croissants I have ever tasted...warm and delicious. The last OA accident (Aviation) was in August 1989 on a Shorts 330 in Samos...No accidents will jet so, yeah, the safety is one of the best. Well done OA...will be a pity to see you go...  crying 
Ross X
 
kaneporta1
Posts: 742
Joined: Wed Jun 01, 2005 12:22 am

RE: Olympic's A340s

Tue Jun 07, 2005 10:55 am

Quote:
Hmm... I see where's the money is flowing out unnecessary...

The problem with OA is not its costly service or the missing row of seats because of the greater pitch, it's because nobody cares about the airline, and the state (which owns it) has no clue how to manage it. Despite the superb service and low prices there has been no promotion of the airline, not even during the 2004 Olympic Games. Another factor is that although the new Athens Airport was voted 2nd best airport in Europe (i could be mistaken but i'm sure it was voted best airport in eastern Europe) there has been no effort to turn it into a major hub with a variety of destinations in Europe, Asia and Africa. The bulk of OA's operations are domestic flights. Some of them are made with ATRs the rest with 734s. The load factors on the 737s are usually poor, apart from the summer season, so that's yet another reason to make a loss. Even during the summer, when a lot of Europeans fly to Greece, a few do so with Olympic because of the almost non-existent co-operation with major travel agencies in Europe, a not so user friendly website and of course total lack of advertising. And that's despite the superior service and competitive prices. No wonder it's going to be a thing of the past in a few years.
I'd rather die peacefully in my sleep, like my grandfather, not terrified and screaming, like his passengers
 
iakobos
Posts: 3255
Joined: Wed Aug 06, 2003 6:22 pm

RE: Olympic's A340s

Tue Jun 07, 2005 7:16 pm

Quoting Kaneporta1 (Reply 15):
the superb service and low prices

Adept of mythology perhaps ?  Wink

Quoting Kaneporta1 (Reply 15):
there has been no effort to turn it into a major hub with a variety of destinations in Europe, Asia and Africa.

That dream, which applies not only to aviation btw, holds no water.


Quoting Kaneporta1 (Reply 15):
No wonder it's going to be a thing of the past in a few years.

Better even, we will not have to wait that long. We should know within the coming two weeks if Olympic changes ownership or becomes history.
 
OA269
Posts: 137
Joined: Sat Nov 27, 1999 12:20 am

RE: Olympic's A340s

Wed Jun 08, 2005 4:10 am

What makes you think the situation is so critical now than ever ? I totally agree on what you say about management (and about Greek management in general) but I'm wondering if,how and why there is any chance after all to be sold or take part in an alliance. It's not any random airliner. I hope they can find another trick (kobina) for once more to get some more time and do some serious work this time although our current gonvernment might not be so much of the tricks as the previous but they seem inexperienced. Cross my fingers...
 
OHLBU
Posts: 224
Joined: Tue Jan 11, 2005 7:35 am

RE: Olympic's A340s

Wed Jun 08, 2005 4:39 am

Quoting Kaneporta1 (Reply 15):
no effort to turn it into a major hub with a variety of destinations in Europe, Asia and Africa

I´ve thought of this also. When you look at the map of Europe Athens would have an ideal location for being a hub between western Europe and Middle-East/eastern Africa/southern Asia. They could have done something similar that Emirates has achieved with their Dubai hub. My opinion is that OA´s problems must really be down to very, very poor management. A true shame if the beautiful Olympic colors disappear from the skies.
 
iakobos
Posts: 3255
Joined: Wed Aug 06, 2003 6:22 pm

RE: Olympic's A340s

Wed Jun 08, 2005 9:25 am

Quoting OA269 (Reply 17):
What makes you think the situation is so critical now than ever ?

Some of the many reasons:
Because the State cannot pump $ anymore into OA, the EU authorized it IIRC in 2001 and the business plan did not work out.
Because the EU is asking the State to get back from OA 194 million Euro in illegal subsidies (2002-2003?).
Because OA has been broken down (not very regularly) into OAirlines, OGround, OServices, OEstates, etc.... whereby the Airline looks good on paper and the debts have been spread on the others.



Quoting OHLBU (Reply 18):
When you look at the map of Europe Athens would have an ideal location for being a hub between western Europe and Middle-East/eastern Africa/southern Asia.

Being midway on a map and offering a good airport are not good enough reasons.
 
soundtrack
Posts: 267
Joined: Sat Feb 10, 2001 5:53 am

RE: Olympic's A340s

Wed Jun 08, 2005 2:15 pm

Good post - I had no idea OA was in this much jeopardy.

What's the % chance of survival would anyone estimate???
 
iakobos
Posts: 3255
Joined: Wed Aug 06, 2003 6:22 pm

RE: Olympic's A340s

Wed Jun 08, 2005 6:39 pm

Chances of survival ? in the present form, none.
Chances of being sold, restructured, etc... IMO 70%.

The "preferred bidder" is expected to be announced in the coming days and the deal closed by end of this month.

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