Aegean Airlines' merger with Olympic Air referred to European Commission

Greece's Hellenic Competition Commission (HCC) stated (07-Nov-2012) it decided unanimously to accept the invitation by the European Commission and make a referral request with regard to the proposed acquisition of Olympic Air by Aegean Airlines. In particular, the HCC found the conditions for a case referral are met, "given that the concentration is liable to have a discernible influence on the pattern of trade between Member States and to affect significantly competition in relation to distinct product markets in Greece and in another Member State". Furthermore, the HCC found such a referral is warranted in the specific circumstances of this case, notably due to the fact that the European Commission had previously reviewed the parties' attempted merger in 2010 and possesses specific expertise concerning the restructuring of the airline industry at EU level. The HCC will continue to cooperate with the European Commission on this case. [more - original PR]