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Greece: Aegean to acquire rival pending authority approval

By  |  October 23, 2012

Competition authorities are currently reviewing a proposal from Aegean Airlines to acquire 100 percent of its main competitor Olympic Air from Marfin Investment Group after the deal was recently settled by the two companies. Aegean is set to pay $A91 million for the airline, to be paid in installments, if authorities agree. A similar deal was blocked in 2011 by authorities, however. If approved this time, the airlines plan to maintain their distinct logos, staff and aircraft.

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