ECONOMY

Olympic aims at becoming a regional leader

Olympic Air?s executive chairman Yiannis Karakadas (l), chief operating officer Thanos Pascalis (c) and Cyprus Airways executive chairman Giorgos Mavrocostas pose during the joint press conference of the two airlines on Tuesday in Athens, announcing their extensive cooperation.

While stating Olympic?s aim to become a regional leader, Karakadas said there will be no further negotiations with Aegean Airlines regarding a merger after receiving the red light from the European Commission, and suggested the cutting of certain destinations such as London was done for cost-saving purposes.

He added that the two airlines? shared flights will cover 60 percent of their total schedule by the summer and that Cyprus Airways will obtain access to 15 of Olympic?s domestic destinations.

Karakadas also accused the government of imposing particularly high airport taxes at a time when fuel is very expensive.

“The government should not put all the burden on Greek carriers, following a policy that favors the foreigners,» he said.