Aegean Airways bids for Olympic

 - January 7, 2008, 8:56 AM

Greek regional airline Aegean Airways has surfaced as one of six bidders for the country’s ailing flag carrier, Olympic Airways. Aegean will compete for the rights to the airline with Olympic Investors; New Wings, led by Greek businessman Pavlos Vardinoyiannis; Golden Aviation, led by Greek shipping tycoon Spiros Restis; Chrysler Aviation; and Wexford Group, owner of U.S.-based Chautauqua Airlines. Slated for privatization for more than three years, Olympic has failed to attract a buyer. The government has assured Olympic pilots that the sale would result in no layoffs.