EU Competition Commissioner Joaquin Almunia stated Aegean Airlines and Olympic Air still face “some difficulties” in efforts to overcome antitrust concerns over their planned merger (Bloomberg, 18-Nov-2010). The EC launched an in-depth antitrust review of the plan in Jul-2010 amid concerns that combining the two Athens-based airlines would hurt competition. The regulator is scheduled to rule on the merger by 12-Jan-2011.
EU: “We have still time, weeks, ahead of us, to find an adequate solution. If we cannot find a solution that will avoid competition problems, we will react accordingly,” Joaquin Almunia, Competition Commissioner. Source: Bloomberg, 18-Nov-2010.