Aegean Airlines in talks to buy Olympic Air, report says

Greek carrier Aegean Airlines is in advanced talks to buy rival Olympic Air, two sources close to the airlines said on Monday.

Former state carrier Olympic Air has been owned by Marfin Investment Fund (MIG) since being privatized. The two carriers had attempted to merge in 2010 but the European Commission blocked the deal on competition grounds.

“There are advanced talks on a deal in which Aegean will be acquiring Olympic,» one of the sources familiar with the matter told Reuters. [Reuters]