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Greek Tourism Shows Resilence

• Minister Is Optimistic

(GREEK NEWS AGENDA) Figures on arrivals at Greek airports during the first five months of the year show an annual drop by 8.8%, much less than had originally been anticipated, Tourism Minister Kostas Markopoulos said during a press conference on June 16. Despite the dire economic climate globally, Markoupolos appeared optimistic that the drop in tourism for 2009 will not reach double digits and stressed that domestic tourism will also reach high levels. Kathimerini daily (17.6.2009): Tourism will not fall by over 10pct this year, gov’t says. Greek National Tourism Organisation: www.visitgreece.gr

• New Planes Take Off

Marfin Investment Group (MIG) which recently bought Olympic Airlines (OA) announced yesterday (June 17) that its subsidiary Olympic Air bought eight Q400 aircrafts from Bombardier for € 161,5 million with an option to acquire another 8. Meanwhile Aegean Airlines has announced that it is beginning daily flights to Istanbul from September 9, expanding its international routes. Kathimerini daily: MIG buys planes for Olympic Air

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.