The two well known Greek carriers, Olympic Air and Aegean Airlines, have announced their plans for a merger. These two airlines plan on forming one single national airline. The agreement, however, is subject to approval by the European Competition Commission. Under these new plans, the Aegean Airlines brand will disappear from the skies all together. All flights will come under the name Olympic Air. Of course, all of this will happen after the necessary transition and adjustment period.

The chairman of Aegean Airlines, Mr Th. Vassilakis, said that the relative size of competitors within the European Union necessitates the joining of the two main Greek airlines. This will achieve increased autonomy in serving the needs of the country. It will increase route options for consumers and ensure the long term development and viability of the two airlines and protect the levels of employment in the sector. Aegean Airlines, which is in line to join Star Alliance in June, said that the new national airline would have an enlarged presence in the European market, as well as seamless coverage of even the most remote islands.

The new company will be listed on the Athens stock exchange and will be led jointly by Aegean’s Vassilakis and Olympic’s Mr A. Vgenopoulos, who went on to say that the prevailing conditions in the Greek economy, as well as in the aviation sector, dictate the combination of forces in order to maintain competitive customer prices. However, this joining will also help protect employment levels and increase their competitiveness on a European level. Overall, this joining will offer many more options for travelers all over the world, and this goes double for Europe.