Olympic Airlines Seals the Deal

(GREEK NEWS AGENDA)

The government has announced the successful conclusion of negotiations with Marfin Investment Group (MIG) for the sale of the national carrier Olympic Airlines (OA). Under the deal, clinched late on Friday, the state is set to receive the sum of €177.2 million for all OA assets, flight operations and technical maintenance. For the ground-handling division, since talks between MIG and Swissport are still in progress, negotiations have been extended for a week, Development Minister Kostas Hatzidakis announced.

In order for the agreement between the Greek state and the Marfin Investment Group (MIG) to be finalised, it must be approved by the European Commission, following which, the inter-ministerial privatisations committee must evaluate it.