18-Nov-2010 12:51 PM
Aegean Airlines and Olympic Air still face 'some difficulties' in planned merger
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.