New Greek flag carrier Olympic Airlines hopes that a pilot deal will allow privatisation within 12 months. To be formed from the flight operations department of former Olympic Airways, Olympic Airlines is due to start flying in mid-November. The Greek parliament approved the restructuring law last week, and presidential assent is expected this week, but a 24h unofficial strike at Olympic Airways' Athens hub shows the unions have still not accepted the plans. Olympic says that new contracts will cut personnel spending by 45% to €46.5 million ($51 million) by banning unneeded overtime, and that redundancies will be unnecessary.

Source: Flight International