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Questions and answers on the approval of the acquisition of Olympic air by the European Commission

I) EU’s decision on the acquisition of Olympic Air

What does the European Commission’s approval entail?

 

  • The acquisition deal between MIG and Aegean was approved today, 09/10. The acquisition is expected to be completed during the period 15-18/10/2013.
  • Upon the completion of the acquisition, Olympic Air will become a subsidiary of the listed AEGEAN.
  • The two brands and logos of the companies will remain intact with each one retaining distinct fleet and flight operations.

Is there going to be one company, one name, one brand?

 

  • Upon the completion of the acquisition, Olympic Air will become a subsidiary of the listed AEGEAN. The two brands and logos of the companies will remain intact with each one retaining distinct fleet and flight operations.

 

Why is this approval important?

 

  • EU’s approval creates the conditions for the establishment of a sustainable Greek carrier, competitive within the Region and capable of supporting a steady growth momentum which will certainly benefit Greek Tourism and the local economy.

ΙΙ) Network

Will the companies’ network be affected?  Will the domestic destinations be reduced?

 

  • The destinations which are covered, in total, by the two companies will not change. The coverage of the domestic network is guaranteed. The overall services plan as well as the 2014 flight schedule will be presented in a press conference on October 23, 2013.

 

What will happen with people’s transportation needs to the subsidized routes and the small regional airports?

 

  • The combined forces of the two companies allow us to become even better, offering an extended network both in Greece and abroad, supporting the region and ensuring quality access even to the smallest Greek island. As a result of that, the destinations which are covered, in total, by the two companies will not change.  The new 2014 flight schedule will be presented in a press conference on October 23, 2013.

 

What will the international network look like?

  • The acquisition will allow us to increase further our presence and growth, both from Athens and the periphery, contributing substantially to the development of Greek Tourism and the Economy.

 

The new 2014 flight schedule and the overall services plan will be presented in a press conference on October 23, 2013.


ΙΙΙ) Fares

 

Will the fares be affected?

 

  • During the last four years, we have managed to reduce the average domestic fare by 30%. In addition, we just launched two new fare categories in Economy Class (GoLight and Flex), aiming to provide more flexible and competitive fares to the passengers. These fares will be available from 10/10.
  • Following the acquisition, the economies of scale that will arise will allow us to offer even lower fares on our domestic network, especially for the small islands.

 

ΙV) The new company

 

 

  • Upon the completion of the acquisition, Olympic Air will become a subsidiary of the listed AEGEAN.
  • The two brands and logos of the companies will remain intact with each one retaining distinct fleet and flight operations.
  • EU’s approval creates the conditions for the establishment of a sustainable Greek carrier, competitive within the Region and capable of supporting a steady growth momentum. 

 

V) The fleet 

 

  • The total fleet after the acquisition will consist of 45 aircraft.
  • The fleet will be one of the youngest in Europe with an average age of less than 4 years.

 

VΙ) Frequent flyers programmes

 

How the Μiles&Bonus and Τravelair Club members are affected by the acquisition;

 

  • Μiles&Bonus and Τravelair Club members  will continue to enjoy the privileges of each programme.
  • The additional benefits for the members that will arise from the acquisition will be announced soon.

 

VIΙ) Contact points of the two companies

Will the contact/bookings points remain the same?

  • Customers can continue making reservations through the websites (mobile & web), the call centers, the ticket offices at the airport of each company, as well as from the Travel Agents and the On line Travel Agents, as usual.