ECONOMY

Aegean : No change to EU check on tie-up with Olympic

Aegean Airlines responded on Friday to reports about a deeper investigation by the European Commission into the leading Greek carrier’s plan to buy out Olympic Air, saying that Brussels’s inspection is continuing as previously planned.

Sources from the airline stressed that the decision by the European Union’s executive arm to proceed to the second stage of the in-depth investigation is not related to developments over the last few days concerning rival Cyprus Airways, as the problems of the Cypriot carrier have not just emerged in recent weeks.

“The need to create a competitive, viable Greek carrier of a considerable size to offer support to tourism in the country has become ever more imperative,” stated Aegean Vice President Eftichios Vassilakis.

Aegean’s case against concerns about the formation of a monopoly in Greece once it joins forces with Olympic is based on the existence of a growing rival in the local market, Cyprus Airways.