Olympic Engineering to close on May 1

Marfin Investment Group is moving ahead with the closure of Olympic Engineering, an Olympic Air subsidiary, as of May 1, due to the enterprise’s financial losses, according to the company annual financial reports.

The 25 company employees have already been transferred to Olympic Air, where they will continue to perform aircraft maintenance despite the absence of a technical base.

MIG will also seek compensation from Athens International Airport amounting to 43.5 million euros for breaking the contract OA had signed with the airport prior to its acquisition by Marfin Investment Group, when it was known as Olympic Airways.