BUSINESS

New logo wanted for Olympic Air

Marfin Investment Group (MIG), which recently acquired Olympic Airlines, will rename the national carrier Olympic Air as part of planned changes to the company. The new name will be adopted as of October. MIG, which bought the lossmaking airline in March, also invited ad agencies and graphic designers to submit proposals for a new logo for the carrier. MIG will pick the three best ideas and put them to a vote by the public, the company said in a statement. The winning logo and its designer will receive 20,000 euros as reward. Olympic's new logo must retain the trademark Olympic rings, symbolizing the five continents, MIG said. The deadline for submissions is May 29. MIG bought the lossmaking airline, its ground-handling and aircraft maintenance units for 177 million euros and hopes to turn the company into a profitable operation within a two-year period. In March, MIG also launched a tender for designers to submit their ideas for new uniforms to be worn by airline staff. Olympic was founded in 1957 by Greek tycoon Aristotle Onassis, who sold it to the Greek state in 1974. Driven into financial hardship in state hands, it was losing about a million euros a day before it was sold. Once a luxury carrier with gold-plated cutlery, it became one of Europe's most troubled airlines in state hands and watched private rival Aegean Airlines woo away more than half its domestic market share.

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