Negotiations over the sale of Olympic Airways by the Greek government look set to drag on until mid-February. Talks have been under way with Golden Aviation Holdings, owned by ship magnate Stamatis Restis, which was nominated as the preferred bidder last year. Golden Aviation has deposited €1 million ($1 million) with the government's consultants, and talks are expected to speed up.

The government has appointed legal firm Bernitsa and consultants Deloitte & Touche and Sagia, the latter tasked with drawing up the business plan.

As part of the sale, Olympic's flight operations are expected to be reorganised around its holiday airline subsidiary Macedonian Airlines.

Source: Flight International