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Decision for Olympic Airways due in mid January

Author: Marina Spanou / Date: Fri, 10/26/2007 - 12:59
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The government of Greece announced in late December that it is going to decide whether it is going to proceed with the signing of an agreement with...

The government of Greece announced in late December that it is going to decide whether it is going to proceed with the signing of an agreement with the Australian joint venture Integrated Airlines Solutions, IAS, and make a formal announcement on January 10th concerning the sale of the state-run airline Olympic Airways<.>, (OA<.>).

Following a proposal made by Credit Suisse First Boston, adviser company for the privatisation of OA, which suggested that negotiations should continue until January 31, the government decided to extend its announcement which was due at the end of December. Officials commented that three crucial issues are being carefully looked into by the government, the first of which concerns the operational plan, the fleet and the personnel that will continue to be employed once the sale of OA materliases.

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