It may be, but it made it to the press. No smoke without fire?
Turkish Airlines Eyes Olympic Air - GTP Headlines
Turkish Airlines has officially submitted a proposal to buy out Greek carrier
Olympic Air, according to recent Turkish media reports. Turkish newspaper Zaman said the plan provides for Olympic Air to retain its brand, flight operations, fleet and staff for at least two years. However,
at the end of two years the Greek airline would be fully absorbed by Turkish Airlines.
Temel Kotil, chief executive officer of Turkish Airlines, told Zaman that their offer is 19 million euros higher than
Aegean’s. An executive at Olympic Air has allegedly confirmed this information.
Reports also mention that added that Turkish Airlines – after buying out Olympic Air – plans to file a takeover bid for rival Greek carrier
Aegean Airlines at a later date.
Transport: Greek Olympic to be acquired by Turkish Airlines - Transport - ANSAMed.it
(ANSAmed) - ATHENS, AUGUST 5 - A proposal has been officially submitted for the sale of the 100% of Greek aircarrier Olympic Air to the the national flag carrier airline of Turkey, Turkish Airlines (THY), GreekReporter website writes quoting Turkish media. Under the deal, Olympic will reportedly keep its name and brand but only for two years, along with its flight operations, crew and staff but then it will take on the name Turkish and the staff and crews will wear Turkish uniforms. Temel Kotil, President and CEO of Turkish Airlines told the newspaper Zaman that the offer is by 19 million euros larger than Aegean, Greece's largest carrier, offered for Olympic, once the national airline of Greece and founded by the late shipping tycoon Aristotle Onassis. An executive at Olympic Air has allegedly confirmed this information.
Specialists in competition issues expressed reservations concerning Aegean's bid, which, according to the Financial Times and CNN Turk, seemed unlikely to be enough, especially with anti-monopoly concerns from the European Commission. The European Commission is expected to give a decision this September on whether to approve or block the acquisition of Olympic Air by Aegean Airlines. It was also reported that Aegean is next on the list for acquisition by Turkish Airlines which would leave Greece with no major airlines of its own. (ANSAmed).
Greece's Aegean, Olympic Air on Turkish Airlines' shopping list? - ch-aviation.ch
Greece's Aegean, Olympic Air on Turkish Airlines' shopping list?
01AUG2013
Turkish Airlines (TK,
Istanbul Atatürk) is still interested in a stake in Greece's
Olympic Air (OA,
Athens Int'l) as well as buying
Aegean Airlines (A3,
Athens Int'l) reports in the Turkish press have claimed. Under the purported deal as described in the Zaman journal, Turkish is "still considering an Olympic Air buyout in its effort to expand further in the region." Under the plan, following its acquisition, Olympic would retain its name and logo for a short period before being fully integrated into Turkish Airlines.
Athens Int'l would also be developed into a hub alongside
Istanbul Atatürk, "in order to start operating flights from Greece to various destinations abroad." Turkish is also said to be mulling a possible bid to acquire
Aegean Airlines (A3,
Athens Int'l) at a later date.