Bid from Marfin accepted
The Greek Government has accepted a bid for its unprofitable carrier Olympics Airlines from the Marfin Investment Group.
The government rejected a bid from rival carrier Aegean Airlines saying it was "doubtful" if such a buy up would meet EU competition rules.
Reuters said Marfin, a Greek investment fund, had offered €45.7m for Olympics flying operations and €126.7m for its technical base.
However, Greece's development minister Kostis Hatzidakis said the government would receive €177m for the carrier.
The deal is subject to approval by the EC but if its goes ahead it will rescue an airline, founded in 1957 by shipping magnate Aristotle Onassis, which links the mainland to dozens of the country's islands.
www.olympicairlines.com www.marfininvestmentgroup.com www.aegeanair.com