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EU: Aegean Airlines makes another go for Olympic Air

By  |  August 9, 2013
EU: Aegean Airlines makes another go for Olympic Air

Following a rejection over the deal by the European Commission earlier this year, Greece-based Aegean Airlines has reportedly made a second offer to the regulator to acquire its rival Olympic Air. The Commission rejected the deal last March despite Aegean’s offer to cap domestic fares; the regulator subsequently intensified its probe into the deal over worries the merger would lead to a monopoly within the country. Now, with an extended deadline for the EC to rule on the deal, the airline has made a new offer though the watchdog did not disclose exactly what that offer includes. Aegean claims the buyout, made for more than $96 million, is vital for the airline’s survival. The Commission now has a deadline of October 16 to rule on the deal, a timeline extended from the original September 25 deadline.

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    Full Content: Reuters

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