Manufacturing Industry
Olympic Airlines for sale
Airline Industry Information, Dec 13, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
The new Greek government announced on Friday (10 December) that it will make its first attempt to sell state-owned national carrier Olympic Airlines.
Olympic Airlines was created a year ago by the previous government, because it was unable to sell the nearly bankrupt Olympic Airways.
In September 2004 the European Commission said it would investigate charges that the state provided additional aid to Olympic Airlines.
The attempt to sell the airline is part of the Greek government's plan to raise around EUR1.6bn from privatizations, reports The Associated Press.
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