Cheap Olympic Airlines Tickets
Olympic Airlines is Greece flag carrier airline that is based in Athens International Airport.
The airline operates 39 international destinations and 35 domestic destinations with hubs at Rhodes International Airport and Thessaloniki International Airport.
It employs about 8,500 staff and accredited by International Air Transportation Association that monitors the safety practices of the airlines.
Three Decades of Operation
Olympic Airlines purchased from Singapore Airlines 3 B747-200 aircraft and reopened routes in Australia and Canada in 1984. Likewise, Olympic Airways cargo was established by converting the Boeing 707-380.
However, due to some financial losses and employees’ strikes in 1986, plans were abandoned. Because of management problems, Olympic Airlines had faced serious financial trouble since the 80’s.
Mismanagement such as allowing the Greek governments to use the airline carry the press with 97% discount and letting Greek politicians and their families travelled free are the causes of financial trouble.
It was also in the 1980’s when the subsidiary of Olympic Airlines, Olympic Air Tours was created. The subsidiary issues tickets for Olympic Airlines as well as other airlines.
Lately, Olympic Airlines was renamed as Macedonia Airlines and was re-established as a charter company.
The struggles
Despite very high load factors of the route to Tokyo via Bangkok, Olympic Airlines shut down the route in 1990. Olympic Airlines purchased more Boeing 737-400 aircraft as well as A300-600R.
The government formulated a restructuring program in order to cope up with the rising debts and losses of the airline however, the program never prosper.
That is why in order to save the airline and make it profitable; the management was given to Speedwing, the subsidiary of British Airways; however, larger debts and rising losses resulted.
The Boeing 747-200 was replaced by four airbus A340-313X that was purchased by Olympic airlines in 1999.
In February 2009, the Greek government attempt to sell the company and extended invitation to some financial groups for direct negotiations.
One of the largest investment fund in Greece, Marfin Investment Group was the first to respond on the invitation followed by the Aegean airlines.
However, on March 6, 2009, the technical base and flight operations was awarded to Marfin Investment Group. Olympic Airlines once again became a private corporation after 35 years of being state controlled company.
Some of the valuable slots of Olympic Airlines in London, New York, Rome, Paris, Brussels, Bucharest and Frankfurt were also purchased by MIG as part of the deal.
Although Olympic Airlines had gone through several struggles, it remained operational and ensures safety travel. You can place your booking online at their website at http://www.olympicairlines.com/.
Olympic Airlines is one of the
most popular airlines. Travelers like to travel in Olympic Airlines, can easily get air tickets from Olympic Airlines online. Check out the best air fare deals for Olympic Airlines.
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