Europe extends probe into Greek airlines' proposed merger

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Europe's investigation into the proposed merger of Olympic Air and Aegean Airlines has been extended until mid-October in order to consider a fresh plan the carriers have submitted in a bid to remedy competition concerns.

The European Commission has moved its provisional deadline from mid-September to 16 October. It will analyse the airlines' new "commitments" and apply a market test to get the views of other "market participants".

If accepted, the proposals would become binding, the merger given the green light, and a trustee appointed to ensure the remedies are carried out.

The Commission opened its investigation into the proposed tie-up in April, and originally had 90 days, expiring on 3 September, to make a decision.