Ex-Olympic A340s sold to Apollo-managed vehicle

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Greece's government has agreed to sell four Olympic Airlines Airbus A340-300s to a special purpose vehicle managed by Apollo Aviation Group.

The government's ministerial committee for restructuring and privatisation issued a decision statement on 23 December confirming that Apollo was "the highest bidding company".

It identified the jets as bearing serial numbers 235, 239, 280 and 292.

The government had subleased the aircraft to Olympic Airlines before the carrier was privatised and emerged as Olympic Air.

It has not disclosed the bid price for the aircraft. Apollo has confirmed that it is taking over the management of the jets. All four aircraft, which are fitted with CFM International CFM56 engines, are 13-14 years old.