European Commission blocks proposed merger of Olympic Air and Aegean



Olympic Air - Merger Plans Shot Down by European Commission

Olympic Air – Merger Plans Shot Down by European Commission

Stating that the proposed merger will create a ‘quasi monopoly’, the European Commission has blocked the amalgamation of Greece’s Olympic Air and Aegean Airlines.

In a statement issued by the commission, it said that the merger will lead “to higher fares for four of the six million Greek and European passengers flying to and from Athens each year”.

The merger proposal was first announced in February 2010 by both the companies. The commission had blocked a similar proposal by Ryanair and Aer Lingus in 2007.

Leave your comment

  • (not published)