MIG-OA deal set to be sealed

Talks between buyout firm Marfin Investment Group (MIG) and the Greek government over the sale of Olympic Airlines may wind up this week with the lossmaking air carrier being sold after years of failed privatization attempts. According to a MIG source, the details of the deal are expected to be finalized at the next meeting with Greek government officials to be held tomorrow, Reuters reported. MIG came forward in early February after an international tender expired in January without any satisfactory offers. The government split Olympic into three units – flying, ground handling and aircraft maintenance – last September to facilitate the sale. MIG submitted a 45.7-million-euro bid in mid-February for Olympic’s flight operations and 16.7 million for its technical base, according to the government. Swissport, a subsidiary of Spain’s Ferrovial, has bid for the ground-handling unit.

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