Press Release: Mergers: Commission opens in-depth investigation into proposed acquisition of Olympic Air by Aegean Airlines

The European Commission has opened an in-depth investigation under the EU Merger Regulation into the proposed acquisition of Olympic Air by Aegean Airlines. The companies are the two main Greek airlines offering passenger air transport services on Greek domestic and international routes. Each of the companies operates a base at Athens International Airport.

The Commission has concerns that the transaction may lead to price increases and poorer service on several domestic Greek routes out of Athens, where the merged entity would have a monopoly or an otherwise strong market position. The opening of an in-depth inquiry does not prejudge the outcome of the investigation. The Commission now has 90 working days, until 3 September 2013, to take a decision on whether the proposed transaction would significantly impede effective competition in the European Economic Area (EEA).