Efforts are again under way to privatise Olympic Airlines in a move that is seen as a last chance to find an investor to prevent the closure of the struggling Greek flag carrier.

The company's adviser for the privatisation - Lazard - is to publish an invitation to potential investors. It will demand a short time limit for those interested in buying 100% of Olympic with the possibility to purchase some of the airline's other activities, such as its ground handling, technical base or cargo divisions. Lazard has indicated that there is interest in the airline from various sectors, including the shipping industry and foreign airlines, with more details due to be unveiled after mid-January.


Source: Flight International