daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > Infrastructure and Mobility Forums > Airports and Aviation > Airports

Airports discussions about existing airports



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old May 6th, 2005, 03:21 PM   #1
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

✈ | A3*/OA* | Hellenic Airports and Aviation Developments

Greek Air Traffic Controllers To Strike Saturday
6 May 2005

ATHENS (AP)--Greek air traffic controllers will hold a four-hour work stoppage Saturday in a protest expected to disrupt scores of domestic and international flights.

State-run Olympic Airlines (OAI.YY) said it will reschedule 36 flights and cancel 13 services as a result of the controllers' protest held to demand greater job guarantees.

In the northern city of Thessaloniki, taxi drivers continued their strike for a second day Friday to press for access to downtown traffic lanes reserved for public buses.

And Greece's two largest labor unions have called a 24-hour strike on May 11, to compensate for the May 1 Labor Day holiday which fell on a Sunday.

The government has declared May 11 a normal working day, but the union protest is expected to affect transport and other basic services.

The Greek Seamen's Federation said its members will strike for 24 hours on that day, halting passenger ferries and other shipping services in greater Athens.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote

Sponsored Links
Old May 10th, 2005, 12:15 AM   #2
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Greek aiports reopen after strike by controllers

ATHENS, May 7 (AFP) - Greek airports reopened Saturday afternoon after a four-hour shutdown caused by a strike by air traffic controllers demanding action against radio interference, officials said.

The stoppage, from midday to 4:00 pm (0900 to 1300 GMT), forced foreign companies to delay some 30 flights, though none were cancelled. Greek airlines Olympic and Aegean cancelled 13 and five domestic flights respectively, and delayed 36 and 48, including international services.

The controllers say the problem of interference seriously hampers communications and is potentially dangerous. Union head Manolis Antoniadis told AFP nothing had been done about it despite promises by the authorities following similar stoppages in June last year.

The union blames the interference from radio and television stations operating on frequencies close to the ones controllers use on insufficient regulation of the airwaves in Greece.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old May 10th, 2005, 07:17 AM   #3
Costandara
Registered User
 
Join Date: Oct 2003
Posts: 26
Likes (Received): 1

WOW Amazing. They actaully warned everyone for once. Strikes in Greece is a daily thing, but a warning, they really are progressing
Costandara no está en línea   Reply With Quote
Old May 11th, 2005, 07:21 PM   #4
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

General strike set to paralyze Greece Wednesday

ATHENS, May 10 (AFP) - A 24-hour, general strike called by major Greek labor unions is set to paralyse the country's public and private sector Wednesday, affecting transport, media and even shutting down the national parliament.

Two major Greek unions gave the go-ahead for the massive strike after the Greek government refused to declare a national holiday for May 11, the date to which May 1 labor day celebrations had been put off.

The strikes are likely to draw massive participation from a workforce incensed by the government's refusal to honor Europe's official worker holiday.

As a result, public transport will be interrupted, schools, banks and public offices will be closed and hospitals and public utilities will operate on reduced, holiday schedules.

The two national air carriers, Olympic Airlines et Aegean Airlines will operate only one flight per destination, and all air traffic will be shut down between midday and 4:00 pm (0900 to 1300 GMT), by striking air traffic controllers.

Air traffic was also halted for four hours last Saturday by controllers who are demanding action against radio interference they say is seriously hampering communications.

In the Greek capital only trolleys will ensure public transport, with an interruption in service between 11:00 am and 3:00 pm (0800 and 1200 GMT).

Subway and bus service will halt for a full 24 hours beginning at midnight Tuesday.

Even the Greek media sector will feel the pinch, with no Greek dailies on the stands Wednesday and television networks operating on a holiday schedule.

The Greek parliament will also be closed.

Protestors from the main Greek worker, civil servant and communist unions are expected to demonstrate in major Greek cities against unemployment and the cost of living.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old May 11th, 2005, 07:22 PM   #5
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Olympic Air says cancels flights on Wednesday

ATHENS, May 10 (Reuters) - Greece's flag carrier Olympic Airlines will cancel 61 of its scheduled flights on Wednesday due to postponed May Day rallies and a 24-hour strike by civil aviation unions, it said on Tuesday.

The Greek government scrapped the May 1 holiday, which is traditionally celebrated with rallies, after it fell on Orthodox Easter Sunday this year. It said May Day could be marked on Wednesday instead, but that it would not be a public holiday, angering unions.

The government insisted on Monday that anyone taking part in postponed May Day rallies on Wednesday would not get a paid day off. Some workers were further infuriated when parliament announced it would be shut on May 11, but that deputies would still get paid.

Unions argue that on past occasions when the May Day holiday has coincided with Orthodox Easter, most recently in 2002, the holiday has been moved.

They have urged their members to defy the government's decision and join rallies in central Athens and elsewhere, and state employees have called a strike for that day.

Public offices will be closed and public transport will grind to a halt, union officials said.

The main private sector trade union GSEE has called on its members to join the rally in Athens, even though people working for private companies as well as state school teachers must get clearance from their employers in order to take part.

Greece is trying to sell loss-making Olympic as part of a privatisation campaign to raise revenues to pay down public debt, one of the highest in the euro area.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old May 12th, 2005, 05:07 PM   #6
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Strike brings Greece to standstill, paralyses air traffic

ATHENS, May 11 (AFP) - Greece was brought to near-standstill by a general strike Wednesday that paralysed all air travel for four hours, crippled public transport, schools and hospitals and even shut down parliament.

Flights were prevented from taking off or landing between 9:00 am and 1:00 pm (0900 to 1300 GMT) as air traffic controllers joined in a strike called by Greece's main trade unions.

The industrial action was launched in support of a range of union demands from higher wages to a referendum on the EU constitution.

Airports across the country were hit, including the main international hub in Athens, and the country's two main domestic operators were forced to modify their flight schedules drastically.

International flights resumed normally at 1300 GMT, said a spokesperson for Athens International Airport, but Greece's national carrier Olympic Airlines was to remain on a timetable of only one flight per destination until midnight (2100 GMT) Wednesday.

Greece's number two carrier Aegean Airlines cancelled 19 return flights and modified a further twelve.

Sea traffic, vital in a country of peninsulas and myriad islands, was also badly affected. Ships and ferries remained at anchor and the port of Corinth was closed for 24 hours.

In Athens, the main roads in the centre were sealed off, public transport slowed to a trickle, schools, banks and public offices were shut and hospitals and public utilities operated on reduced, holiday schedules.

Subway and bus services were halted until midnight Wednesday, while trolley buses -- themselves running on minimum service -- were interrupted from 11:00 am and 3:00 pm.

Even the Greek media sector felt the pinch, with no Greek newspapers on the stands and the public television network taking a three-hour break.

The Greek parliament was closed on the orders of its speaker.

The strike also affected mail services, construction, shipyards, industry, Greece's telecoms operator and the country's main electricity provider.

To back up the action, a total of 6,000 demonstrators representing various unions marched through Athens in two separate rallies.

Demands included higher wages and pensions, more relief against the rising cost of living and increased measures to tackle unemployment.

Mixed in with domestic social concerns were calls by some demonstrators for a rejection of the European Union constitution, which has yet to be ratified by Greece, and by others for a referendum on the treaty.

The unions gave the go-ahead for the strike after the government refused to declare a national holiday for May 11, the date to which the traditional May 1 labour day celebration had been put off because it coincided with the Greek Orthodox Easter Sunday.

The General Confederation of Workers (GSEE) said there had been 100 percent compliance with the strike order in the bank and docking sectors and water and electricity utilities.

"Employee participation exceeded every precedent and reached 100 percent in some sectors," it said in a statement.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old June 23rd, 2005, 04:44 PM   #7
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Greek General Strike to Disrupt Air Traffic Friday

Greek general strike to disrupt air traffic Friday

ATHENS, June 22 (AFP) - A 24-hour general strike on Friday in both the private sector and public utilities is expected to disrupt air transport at the height of the tourist season.

National carrier Olympic Airlines - the main tourist carrier serving the Greek islands - will be limited to one flight per destination during the day, it said Wednesday.

Foreign airlines may also have to modify their schedules if air traffic controllers join a three-hour work stoppage called by the union of civil servants (ADEDY) from 1000 to 1300 local time (0700 to 1000 GMT).

The action is part of a 24-hour general strike organised by the General Confederation of Workers (GSEE), the largest Greek union with 600,000 members, against government labour and tax policies.

Public transport in Athens is set to grind to a halt, and public utilities such as the state-run electricity and telephone companies will operate on limited capacity, GSEE official Manolis Kontopanos told AFP.

Ferry traffic to the Greek islands could also be affected as seamen are expected to join the strike, Kontopanos said.

Dock workers at the main Greek port of Piraeus have already pledged their support to GSEE's 24-hour initiative on Friday, prolonging an overtime pay dispute with the government that has disrupted commercial traffic deliveries for the past three weeks.

The dockers intend to maintain their protest until July 1, their union said.

Friday strike will intensify social unrest that began in the banking sector two weeks ago, with the 60,000-strong banking staff unions striking against government plans to reform the social insurance fund of their members.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old June 23rd, 2005, 04:49 PM   #8
Giorgio
Registered User
 
Giorgio's Avatar
 
Join Date: Oct 2004
Location: Melbourne
Posts: 10,662
Likes (Received): 485

ahhh i love greece
Giorgio no está en línea   Reply With Quote
Old June 24th, 2005, 10:46 PM   #9
Paulo2004
Luso from Aveiro
 
Paulo2004's Avatar
 
Join Date: Oct 2004
Location: Lusitania
Posts: 4,656
Likes (Received): 57

Greece is beginning to feel the pressure after thinking that sport events qualifies them for world rich status, which obviously it is not. And beware....wait until the real deficit numbers are known. They will hit skyhigh.

Portugal felt this 3 months ago and finally measures are being taken to correct things here.
__________________
Murtosa em Fotos

For the best photos or information on Portugal, visit the PORTUGUESE FORUM.
Paulo2004 no está en línea   Reply With Quote
Old August 23rd, 2005, 08:38 PM   #10
Landos
BANNED
 
Join Date: Jul 2004
Posts: 197
Likes (Received): 0

Athens, Greece airport. How to get around!

Good general information for travellers to Greece:

http://www.athensguide.com/airport.html
Landos no está en línea   Reply With Quote
Old December 3rd, 2005, 05:39 AM   #11
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Athens Airport Cuts Landing Charges to Boost Cargo Traffic

Athens airport to cut landing charges in bid to boost cargo traffic
2 December 2005

ATHENS, Greece (AP) - Athens International Airport said Friday it was cutting landing charges for airlines that introduce new or additional cargo services at the airport.

Under a three-year incentive policy, the airport said it would reduce landing and parking charges for the first year of operations by 50 percent, by 37.5 percent in the second year and by 25 percent for the third year.

The move is designed to boost profitable cargo traffic flows, the airport said. It introduced a similar incentive policy in September for passenger flights.

Greece has a 55-percent stake in Athens International Airport and is looking to sell part of its holding in 2006. German construction company Hochtief AG, which has management control of AIA, has a 40-percent stake.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old June 28th, 2006, 12:17 AM   #12
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Athens Airport & Olympic Airlines

INTERVIEW-Athens airport sees flat pft, Olympic woes weigh
By Alkman Granitsas and Tatiana Fragou

ATHENS, June 16 (Reuters) - Athens International Airport (AIA) expects to post unchanged profit this year ahead of its planned privatisation, while the possible closure of flag carrier Olympic Airlines could weigh on earnings, the deputy chief executive of AIA said.

The airport, one of Greece's most successful infrastructure projects, is a centrepiece of the government's 2007 privatisation agenda aimed at cutting public debt.

Greece wants to sell its 55 percent stake, raising an estimated 1.6 billion euros ($2 billion). German construction group Hochtief , which built the five year-old airport, holds 40 percent and engineering giant ABB owns 5 percent.

"We expect passenger traffic growth of one to two percent in 2006," Yiannis Paraschis, AIA deputy chief executive said in an interview with Reuters on Friday. "With profits at the same levels as last year."

In 2005, AIA reported a 4.5 percent rise in passengers to 14.2 million and posted a 31 percent rise in pretax profit to 61.8 million euros.

Although details of the privatisation have not been made public, the government is expected to list its shares of AIA on the Athens bourse through an initial public offering (IPO) next year.

"The company is a very successful venture and we are ready to enter the stock market anytime the shareholders want us to," Paraschis said, without giving details of the planned IPO timetable.

OLYMPIC TROUBLES

But Paraschis acknowledged that the troubles of state-owned Olympic Airlines [OLY.UL] are a concern, because the company accounts for 40 percent of AIA's annual passenger traffic and about 22 percent of the company's revenue.

Under pressure from the European Union to pay back hundreds of millions of euros in illegal subsidies, the government has said debt-ridden Olympic will keep flying until October, while a leaner successor to the company is created.

"We hope the government will succeed in creating a successor to Olympic," said Paraschis. "But obviously it is something that worries us and we would like it (Olympic's closure) to be avoided."

In 2005, the airport posted a marginal 0.5 percent increase in turnover to 331.4 million euros and a 2.8 percent decline in operating expenses to 208.3 million euros.

Much of the reduction in operating expenses came from the early repayment of 45 million euros in subordinated debt, which increased overall profitability by 8.5 million euros.

Paraschis said that the company is now seeking to restructure its 1.1 billion euro debt and refinance it at lower interest rates. The vast majority of AIA's debt, over 900 million euros, is owed to the European Investment Bank.

"We will shortly enter discussions with existing lenders to restructure our debt," Paraschis said.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old December 2nd, 2007, 04:07 PM   #13
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

Ryanair lawsuit bad news for Olympic-Greece

ATHENS, Nov 30 (Reuters) - Ryanair's lawsuit against the European Commission over its failure to make Olympic Airlines [OLY.UL] pay back state aid will discourage any investors interested in the airline, Greece said on Friday.

Greece has been trying to privatise the airline, renamed from Olympic Airways, but repeated calls for interest from investors have yielded no results for the debt-ridden carrier.

Budget airline Ryanair said last week it was suing the European Commission for failing to act on the Irish airline's complaint the Greek government provided illegal state aid to Olympic Airlines.

The Commission has also ordered Greece to retrieve hundreds of millions in state aid dating back to the 1990s, something which it has yet to do.

"Ryanair's lawsuit ... and the demand to open up dossiers on 'new illegal state subsidies' are worsening the situation of Olympic," Transport Minister Kostis Hatzidakis said in a statement following a meeting with European Transport Commissioner Jacques Barrot in Brussels.

"Anyway, as long as legal problems with Brussels remain unsolved, any credible investor is discouraged," he said in the statement released in Athens.

The Commission first ruled in 1996 that Greece was in breach of EU state aid rules.

Olympic Airways was split into two units in 2003; a debt-heavy services company and a debt-free carrier, Olympic Airlines. Brussels still regards it as one company.

Olympic Airlines was thrown a lifeline last December when Greece's Supreme Court ordered the state to pay the carrier 563 million euros for unpaid services it had rendered in the past.

"Despite these problems the battle (to rescue Olympic) will continue," Hatzidakis said. "Taxpayers should know we respect their money and are seeking a ... viable solution." (Writing by Karolos Grohmann; Editing by Paul Bolding)
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old December 11th, 2007, 10:45 PM   #14
agnwstos
Registered User
 
Join Date: Oct 2007
Posts: 248
Likes (Received): 1

Olympic surely won't close,the only they can achieve is to split it into 2 companies with different names and that's all.
agnwstos no está en línea   Reply With Quote
Old December 12th, 2007, 05:14 AM   #15
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

EU's Barrot says Olympic Air running out of time-report

ATHENS, Dec 10 (Reuters) - Greece is running out of time to find a formula to save troubled Olympic Airlines [OLY.UL], EU Transport Commissioner Jacques Barrot told an Athens paper.

"The longer we take in finding a viable and legally strong solution, the bigger the danger that Olympic will disappear along with its name and logo," Barrot was quoted as saying to the Greek daily Eleftheros Typos on Monday. The Greek government said for the first time on Friday that it was unlikely the carrier, which has been told by the EU to pay back hundreds of millions of euros in illegal state aid, could be rescued in its present state.

Pressured by labour unions and the public, which have long opposed shutting down the airline founded by shipping tycoon Aristotle Onassis, consecutive Greek governments have tried and failed to privatise Olympic.

Barrot suggested that the debt-ridden Olympic may adopt a model like Belgium's Sabena, which was shut down and some of its assets transferred to a smaller, private company which is now successful.

"Only such a solution will allow the company to fly with the (same logo) in Greek skies," Barrot was quoted as saying.

Last month, budget airline Ryanair said it was suing the European Commission for failing to act on its complaint that the Greek government provided illegal state aid to Olympic.

"At this stage and despite efforts made by Greek authorities, I think it is very difficult to conclude that Olympic has paid back all illegal aid it has received and that it does not continue to receive aid," Barrot said.

The Commission first ruled in 1996 Olympic must pay back large amounts in illegal aid it received in the 1990s.

Olympic Airways was split into two units in 2003, a debt-heavy services company and a debt-free carrier, Olympic Airlines. Brussels still regards it as one company.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old December 19th, 2007, 05:56 PM   #16
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

EU Commission opens new state aid probe against Greece's Olympic Airlines
19 December 2007

BRUSSELS, Belgium (AP) - The European Commission opened a new probe into aid Olympic Airlines SA received from the Greek government, officials said Wednesday.

The European Union executive office said a preliminary investigation found that dubious aid payments "are believed to have been made" to the Greek airline and Olympic Airways Services, which provides ground handling and maintenance services.

The new alleged aid was given after a previous 2005 decision by EU regulators, which found the airline guilty of receiving illegal state aid, the commission said.

In previous years, the EU has demanded the airline repay millions of euros (dollars) in aid and subsidies it received from the Greek government amid restructuring efforts to keep Olympic afloat.

EU spokesman Michele Cercone said the aid under investigation includes the financing of aircraft leases since May 2005 and compensation payments made to its ground services subsidiary.

Athens has been given one month to answer the allegations of whether it handed over illegal state aid to the two companies.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 19th, 2008, 04:38 AM   #17
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

#OA | Olympic Airlines

FACTBOX-Greece's Olympic Airlines to shut down, relaunch

Sept 17 (Reuters) - Greece on Wednesday announced it will close down ailing state carrier Olympic Airlines [OLY.UL] and relaunch it under a new structure after failed attempts to find a buyer.

Following are facts about Olympic Airlines and its predecessor Olympic Airways.

HISTORY

- Olympic Airways was founded by shipping tycoon Aristotle Onassis in 1957 after he took over Greek national airline TAE.

- Onassis sold Olympic back to the government for about $68 million in 1974 after his son Alexander died in a plane crash.

- Mismanagement led the carrier into financial hardship in the 1980s. Unions often struck for trivial issues. Staff numbers were swollen by vote-hungry governments and the airline became severely indebted.

RESTRUCTURING

- In 1994, the EU Commission requested the airline's restructuring and an end to government subsidies. The plan called for early retirement of staff, a three-year wage freeze, a 158 million euro capital injection and debt relief.

- By 1996 the Commission realised the plan was not being fully implemented and prohibited further capital injections.

- Brussels approved another restructuring plan in 1998. A year later the government hired British Airways subsidiary Speedwing to turn around Olympic but the plan failed.

- A 2000 tender to sell Olympic proved fruitless.

- A further restructuring in 2003 established Olympic Airlines, a slimmed down version of Olympic Airways, and the government launched a new sale effort.

OLYMPIC AIRWAYS

- Following the spin-off of Olympic Airlines, Olympic Airways was renamed Olympic Airways Services. Its current operations include ground handling, cargo handling, aviation training and technical maintenance.

OLYMPIC AIRLINES

- Shares are wholly owned by the state which in December 2004 hired Lazard, National Bank, Alpha Finance and Emporiki Investment Bank as advisers to the latest privatisation effort.

- Operates 37 aircraft to 36 domestic and 36 overseas destinations and has about 4,500 staff. Employees total about 8,000 when combined with Olympic Airways and seasonal personnel.

- In the red since its launch. Reported net loss of 23 million euros in 2003 and 87 million in 2004.

- Main domestic competitor is privately held Aegean Airlines .
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 19th, 2008, 04:40 AM   #18
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,962
Likes (Received): 18222

EU gives go-ahead to Greece to privatize Olympic Airlines, says airline must replay millions
17 September 2008

BRUSSELS, Belgium (AP) - The European Union on Wednesday approved Greece's plan to privatize the Greek carrier Olympic Airlines SA next year but said the airline must pay back millions in aid that it should not have received.

EU Transport Commissioner Antonio Tajani said the Greek government's plan to sell assets of the troubled airline, including its ground handling and maintenance services, does not violate EU rules, but he told the airline it has pay back state subsidies worth 850 million euros ($1.2 billion).

"We are asking ... Olympic airlines to return the amount they received in state aid to the state, because we consider that amount incompatible with European legislation," Tajani told reporters.

He said the European Commission would keep a close eye on how the airline is sold, making sure that happens in a free and open bidding process. He said an independent trustee would oversee the sale to ensure EU rules are not violated.

"We said the sales of assets by the old company has to take place at market prices, and that the sales have to take place in total transparency," said Tajani. "The intention is that the new company will be 100 percent privately owned" by 2009.

Tajani said the EU executive wanted to "make a break" with the past, to bring to a close almost endless legal battles over aid given to Olympic over past years. He expected that new ownership would mean a much leaner and smaller airline, but one that should be free of government handouts.

Speaking in Athens, Greek Transport Minister Costis Hatzidakis said the approved plan will allow the new company to keep the Olympic name and logo.

"The company will be privatized, but its current work force will be fully secured," Hatzidakis said. The approved plan "will finally resolve, in the best possible manner, an issue that has occupied Greek society and politics for some 30 years."

Olympic still employs 4,600 full-time employees and about 3,500 seasonal workers, and has accumulated total losses of around 2.7 billion euros ($3.85 billion).

Hatzidakis said "all routes" except for the domestic regional flights, which are allowed to be subsidized, were losing money.

"This is because Olympic Airlines has a structural problem. The only profitable routes are the ones that are legally subsidized to remote destinations (in Greece)," Hatzidakis said.

The minister said current jobs could not be guaranteed at the new airline, but said full-time workers would be guaranteed a job at another state-owned company or be offered early retirement.

Hatzidakis said the old company will be liquidated and the proceeds will be used to pay off the debts to the government but that "most of the money will not be returned."

Trade unionists in Athens staged a rowdy protest outside the transport ministry against the plan.

The European Commission has long hounded Greece over loans and grants it gave to the carrier, and has filed several lawsuits at EU courts to force Athens to recoup what the commission has deemed illegal state aid.

Greece and Olympic Airlines still have an appeal pending in a lower EU court to annul earlier commission decisions against restructuring aid and subsidies given to the airline.

Olympic Airlines won a small victory last year at the EU court when it said the commission failed to prove some of the funds violated EU state aid rules. Those funds involved unpaid taxes on fuel and spare parts, as well as unpaid fees to Athens International Airport.

For years, Greece supplied subsidies to the struggling national airline, which in 2001 had debts totaling some 120 million euros ($171.2 million). In 2003, the government incorporated the assets of debt-ridden Olympic Airways and two subsidiaries into the newly named Olympic Airlines.

------

Associated Press Writer Nicholas Paphitis and Derek Gatopoulos in Athens contributed to this report.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 19th, 2008, 08:20 AM   #19
Yrmom247
Parabolic
 
Yrmom247's Avatar
 
Join Date: Jan 2008
Location: Tampa
Posts: 359
Likes (Received): 0

More bad news for the Greeks? Nothing new.
__________________
VANCOUVER 2010 SOCHI 2014!!!!!!!!!!!!!!!!!!! I may be paranoid, but no android.
Yrmom247 no está en línea   Reply With Quote
Old September 19th, 2008, 01:15 PM   #20
Magellan
Registered User
 
Magellan's Avatar
 
Join Date: Mar 2008
Location: London
Posts: 335
Likes (Received): 0

It will be interesting to see, given the Greek Government's record, just how much of this money actually gets repaid.
Magellan no está en línea   Reply With Quote


Reply

Tags
athens

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 02:09 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

tech management by Sysprosium