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Legal news in brief
19 October 2008
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Olympic Airlines
FL Group
Martin Air
Jat Airways
The European Commission has approved Greek plans to privatize Olympic Airlines and Olympic Airways Services, on the condition that ?850 million ($1.2 billion) of illegal state aid is returned.
The EC agreed to a plan to close the financially troubled Olympic Airlines and Olympic Airways Services and transfer all assets to a new entity, Pantheon. The new company is expected to continue domestic service but offer fewer international flights than Olympic. The European Union is seeking to impose fines on Greece for providing Olympic Airlines and Olympic Airways Services with ?850 million in financial...
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