A PYMNTS Company

EU: Olympic, Aegean merger now under formal review

By  |  April 23, 2013
EU: Olympic, Aegean merger now under formal review

The European Commission has announced its launch of an investigation into Aegean Airlines’ proposed buyout of Olympic Air. The Commission now has a deadline of 90 days to complete its investigation and rule as to whether the merger would hamper competition. According to its press release, the Commission initiated a review due to the fact the parties are the two leading airlines within Greece for both domestic and international travel; additionally, both operate out of Athens. The Commission is concerned the deal would create a monopoly in the nation’s capitol. Further, the regulator has concerns that the airlines’ main rival, Cyprus Airways, may no longer be strong enough to sufficiently compete with the combined entity if the acquisition were to go ahead. The Commission has already blocked a previous deal between the two companies in 2011.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: European Commission

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.