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Greek interest in Olympic Airways

Greek investors are showing a great interest in Olympic Airways<.>, according to…

Greek investors are showing a great interest in Olympic Airways<.>, according to Credit Suisse First Boston, the Greek government`s advisor on the privatisation of the national carrier.

It appears that the entrepreneurs would consider purchasing a majority stake in the ailing airline as well as organise the setup of a management team.

On the other hand, foreign investor interest appears particularly low and, for this reason, the process of seeking out a strategic investor is not expected to begin until October, and not August as initially intended.

A new business plan is likely to be drawn up that presents the current situation Olympic faces, its place in the market and its future prospects.

Furthermore, OA management hopes to clear its existing debts while Price Waterhouse Coopers has taken up the carrier`s financial management.

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