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Olympic Airlines

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27 total articles

6,129 total articles

EUROCONTROL Dir Gen, David Mc Millanhres European airlines report single-digit traffic growth in 2010; profits remain weak

25-Feb-11 5:00 PM

European airlines reported single-digit growth last year - a welcome improvement from 2009's depressed level - but 2010 was a lacklustre year overall. Full year data has been released by the Association of European Airlines (AEA), the European Low Fares Airline Association (ELFAA) and EUROCONTROL. As noted by EUROCONTROL, growth across the continent last year was driven mainly by LCCs.

CAPA’s Hottest Airlines to watch in 2011: Europe

9-Nov-10 5:09 PM

The European airline market was battered by the global financial crisis, recording a combined loss of USD4.3 billion in 2009, according to IATA. Europe's tepid economic recovery, the ash cloud crisis, difficulties in cutting capacity and massive structural changes within the short-haul market have conspired to make 2010 another challenging year. Losses are anticipated at USD1.3 billion in 2010, making it the only region to be unprofitable in an otherwise strong year for recovery elsewhere. But there are some bright spots in the region. In this report, CAPA reviews the European airlines expected to make waves in 2011.

Aegean Airlines seeks a way through difficult economic conditions and EU challenges

10-Aug-10 5:46 PM

In recent decades, Greece has been a relatively stable nation with a very unstable airline. Once Olympic Airlines collapsed, it appeared that Aegean Airlines would restore stability to the sector, and meanwhile instability confronts the country. Now Aegean's status is being challenged as seven years of profitability turn into losses and the carrier pins its future hopes on a merger with the other Greek airline, Olympic, a vestige of the former flag. But now the European Commission has raised doubts about the prospects of the merger being able to meet EU competition standards.

Not happy days for the walking wounded; bailout time, for some..

7-Oct-08 5:27 PM

Global financial turmoil is not ideal fare for many. But the current attack of financial panic in Europe comes at a particularly bad time for the handful of elderly airlines which had already been brought to their knees by high fuel costs and an increasingly competitive marketplace. Although oil prices slumped below USD90 overnight, finding cheap credit or friendly buyers at this time becomes more difficult than it has been for many years.

Changing of the guard – with no respect for history (or reality)

19-Sep-08 5:05 PM

A lot of aviation history is ready to go down the gurgler this year. Alitalia, with its 60 years of operation, must surely stop twitching soon. It is apparently to be followed in short succession by Jat Airways, whose pedigree can be traced right back to 1927. Now there is Olympic, which is to be technically liquidated to allow privatisation of the parts that have value; it started operating in 1957, when Aristotle Onassis decided to move into airlines, fulfilling the old dream of becoming a millionaire by starting as a billionaire – but the airline was later nationalised.

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