Olympic Airlines Opens New Chapter

The transition period for Olympic Airlines should be completed by 30 September with the transfer of 100 percent of the three carrier’s units (flight operations, technical basis, ground handling) to Athens-based Marfin Investment Group (MIG), the company announced recently.

Already agreements for the acquisition of selected assets of Olympic have been signed by parliament to acquire 49 percent of the share capital of Pantheon Airways (flight operations), Hellenic Aircraft Maintenance and Repair (technical basis) and Hellenic Aircraft Ground Handling.

The three Olympic Airlines’ units have elected new board of directors, while Antonis Simigdalas, president of the European Regions Airline Association and former chief operating officer of Aegean Airlines, has been appointed as chief executive officer.

MIG added that until the end of the transitional period Olympic Airlines and Olympic Airways Services would still provide all services under the responsibility of the Greek government.