Olympic-Aegean Merger Applauded By Head Of Greece’s Main Tourism Association

Andreas Andreadis, president of SETE

The upcoming merger of Aegean Airlines and Olympic Air is expected to create a strong national carrier that will contribute to the growth of Greek tourism, according to the president of the Association of Greek Tourism Enterprises (SETE), Andreas Andreadis.

On 9 October, the European Commission announced its decision to allow the acquisition of Olympic Air by Aegean Airlines claiming that the merger of the two Greek carriers would have no additional negative effect on competition.

SETE expressed its hope and belief that in the effort to attract 24 million international arrivals to Greece by 2021 and given the high percentage of travelers that visit the country by air, Aegean Airlines will rise to the occasion.

Following EU approval, the acquisition of the shares of Olympic Air and the assumption of management by Aegean is expected to be completed by 18 October 2013.