On Wednesday, the European Commission stated it will block any plans for a merger between Greek carriers Aegean Airlines and Olympic Air. The reason for stepping in is due to the fact that it would cause what would resemble a monopoly in certain sections of the country’s air-transport market.

The European Commission commented in an  AP story on the merger by saying it “would have led to higher fares for four out of six million
Greek and European consumers traveling on routes to and from Athens
each year.”

In order to secure the deal, both airlines were willing to give up takeoff and landing slots at airports in Greece. However the airports they were offering were not as busy as other European airports considered in previous mergers or alliances.

Commenting on the failed attempt at a merger, chairman of Aegean Airlines, Theodore Vassilakis said, “An important opportunity for a consolidated representation in the
European aviation market has been lost.”

 

Leave a Reply

Your email address will not be published.

About The Author

CheapOair Staff