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.

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