Olympic Air to fight rejection of Aegean merger

AP News
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Posted: Mar 02, 2011 5:08 AM
Olympic Air to fight rejection of Aegean merger

Greece's Olympic Air says it will cut routes to London, Paris, Vienna and Brussels as part of a reorganization in the wake of the European Commission's decision to block a proposed merger with local competitor Aegean Airlines.

An Olympic statement says both companies will appeal to European courts against the Jan. 26 ruling, which stated the combined carrier could monopolize Greek air travel.

Wednesday's statement said Olympic's board decided to reorganize its routes, increasing domestic flights while maintaining or expanding services to Amsterdam, Belgrade, Bucharest, Cairo, Istanbul, Larnaca, Sofia and Tirana.

The statement said Olympic aims to become a dominant airline in southeastern Europe.