Here is the preliminary report (German only). By request of the Greek authorities, the investigation into this occurrence is performed by the German BFU.
To sum it up - the aircraft departed EDDM with more than Minimum Block; the weather both at Heraklion and Chania was favourable (LGIR at 1620: 050/10 SCT020 9999 24/20 1014; LGSA at 1620: 280/10 FEW020 9999 27/16 1014). Approach procedure in use was the VOR A 09, which I understand to be not nearly aligned with the runway due to terrain. Due to non-contact with the runway, the flight went around, was vectored a bit and due to the fuel state requested diversion to LGSA. Some language problems ensued, so in order not to lose more time, the Commander declared "Pan Pan Pan". As there was another aircraft in approach to LGSA, the flight was instead cleared to SOU VOR to hold, so the Commander had to anticipate a landing with less than Final Reserve and declared a fuel emergency. The other traffic was then send around to allow the AB flight a straight-in to LGSA 29, where it landed with Final Reserve and shut down the engines after taxi with 100kg below.
Not even a hint of illegal practices having occured on this flight in there, and certainly not worthy of a headline.