Olympic, Aegean To Appeal EU Merger Rejection

Law360, New York (March 2, 2011, 3:15 PM EST) -- Olympic Air SA and Aegean Airlines SA plan to appeal the European Union's recent decision to block their proposed merger, Olympic said Wednesday.

The European Commission's refusal in January to clear the combination despite the airlines' offer to shed takeoff and landing slots at airports in Athens and other cities has caused problems for Olympic, the carrier said. As a result, the airline announced Wednesday plans to add more domestic flight routes while eliminating service to Paris, London, Brussels and Vienna.

Olympic President John Karakadas said...
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