Aegean Airlines has signed a definitive agreement with Marfin Investment Group to acquire Olympic Air for €72 million ($99.2 million) in cash, and the transfer of 100% of Olympic Air shares has been completed. A down payment of €20 million was paid Oct. 22, with the remainder to paid in five equal annual installments, the first of which was paid Oct. 23. On completion, Olympic Air becomes a subsidiary of Aegean which assumes management of the company.

Subscribe to Access this Entire Article

"Aegean Airlines completes acquisition of Olympic Air" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.