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Greek government aims to sell Olympic Airlines sooner rather than later.

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

The Greek government is to increase its efforts to sell struggling national carrier Olympic Airlines.

The government is considering increasing the number of banks that have been asked to find a potential buyer for the airline which has been available to purchase since 2000.

The airline has only survived because the Greek government made it exempt from taxes, prompting a court battle with the European Union over illegal state subsidies. The government has hired three major banks to draw up plans to save the airline and make it attractive to potential buyers, reports Bloomberg.

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Publication:Airline Industry Information
Article Type:Brief Article
Geographic Code:4EUGR
Date:Sep 1, 2004
Words:114
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