Monday, August 12, 2013

New Aegean Concessions Push Back Decision Date on Olympic Acquisition

Aegean Airlines, which has already been blocked once by the European Commission from acquiring fellow Greek carrier, Olympic Air, submitted new concessions late last week in the hopes of finally winning approval for the proposed takeover. Aegean appears to have recognized that the concessions it offered in March would not be sufficient to alleviate the Directorate General for Competition's concerns. In response to the new concessions the decision deadline has been extended from September 25 to October 16. Aegean appears to have a solid argument that both Greek carriers cannot survive indefinitely, however, the EC has historically taken a harsh view of deals involving this degree of route overlap and potential for intra-state monopoly. 

http://lawprofessors.typepad.com/aviation/2013/08/new-aegean-concessions-push-back-decision-date-on-olympic-acquisition.html

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