The Hellenic Radio (ERA): News in English, 10-02-22

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] OLYMPIC AIR - AEGEAN: "National Champion Born"

On Monday, Greece's two major airlines AEGEAN and OLYMPIC AIR agreed to merge so the new company to enter into the Athens Stock Market and OLYMPIC HANDLING and OLYMPIC ENGINEERING become 100% subsidiaries in the new formation. The new company to start operating from October 2010 and will use OLYMPIC AIR name and logo after the necessary transitional period for changes and adoption during which Aegean name and logo will be used.

The agreement remains to be approved by the European Competition Committee. According to the agreement, Aegean (Basilakis Group) and O.A single shareholder Marfin Investment Group will have equal participation in the company coming from the merging, also keeping their proportional participation as shareholders the groups Lascaridis, B. Konstantakopoulos, G. David, L. Ioannou as well as Piraeus Bank continuing to support this extremely significant effort of the country.

Th. Basilakis and A. Bgenopoulos will be the heads of the new companies securing smooth unification of operations and creation of "National Champion" in air carriers which would extend operations at European level and continue flying to the most remote parts of Greece.

The two companies fleet consist of 64 aircrafts of which 39 are ultra modern Airbus. Aegean employs 2.500 people and Olympic Air 3.350 along with Olympic Handling and Olympic Engineering. The two companies have 65 scheduled domestic flights and 41 flights abroad.

NET 105.8 News item: 33655

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