21 September, 2005
Olympic Investors continues to be interested in buying Olympic Airlines despite a huge fine imposed on the airline company by the European Commission, Costas Alexakis, the founder of Olympic Investors, told "GreekNews" a Greek newspaper published in New York.
Olympic Investors participates in an international tender for the sale of Olympic Airlines and has signed a non-binding agreement with the Greek state. Alexakis reiterated his company's interest in acquiring the Greek national carrier, although he expressed his concern over the huge fine imposed on the company, saying he hoped the government would act on that. He stressed that the EU decision was expected.
Alexakis said that Olympic Airlines should continue to operate as an integrated company and noted that his company was not interested in buying parts of Olympic Airlines. He said that York Capital has 6.5 billion US dollars, currently, in its coffers, which was more than enough to buy the Greek airline. He reassured that OA's workers would not lose their jobs and said that more staff would be hired after the beginning of a new line linking Athens with Baltimore, USA.
The government spokesman on Tuesday reiterated that contacts by an international financial consultant overseeing the current privatization effort for Olympic Airways (OA) with potential buyers -- namely, if they are still interested in the purchase -- must first be exhausted before subsequent decisions are made.
Asked about the prospect of state participation in a future OA, spokesman Theodoros Roussopoulos again cited a recent statement by Prime Minister Costas Karamanlis, who clarified that Olympic cannot continue to operate in its present form.
Source: Athens News Agency