Air Transport World

Olympic Airlines.(Europe)(Brief Article)

Debt-laden and perennially torn by labor unrest and revolving-door upper management, Olympic Airways was reborn by the grace of a December government bailout as slimmed-down Olympic Airlines. Its "inaugural" flight from Athens to Cairo was tainted by a wage dispute that dragged on until mid-February with fright attendants protesting a 15% wage cut. As a flights-only operator, "new" Olympic has absorbed all routes of Olympic Aviation, Macedonian Airlines and Olympic Airways unburdened by "old" Olympic's accumulated $600 million-plus debt. It has just 1,850 employees compared with 6,100 at the old company.

Petros Papageorgiou, a professor at Piraeus University, was named chairman with Olympic executive Odysseas Vlamis as MD. …

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