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Qatar Airlines and Iberia are withdrawing from the privatizing tender for Olympic Airways

24 December 2008 / 10:12:55  GRReporter
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Some of the first negative consequences after the December demonstrations in Greece are a fact – the anarchists frightened the strongest players for the saving of the national airline. Qatar Airlines and Iberia, which were the biggest hopes for bringing Olympic back on its legs are withdrawing from participating in the tender. The Greek media note that this is very unfortunate for the development of Kostas Karamanlis’ government because he himself took responsibility of Qatar Airlines’ offer during his visit in Doha during November.

Qatar Airlines decision is influenced by the December riots in Greece, which are creating an image for the country where the social tension is shaking, the global financial crisis has strong effect, and the negative consequences from the crisis affect the tourism. Observers believe that behind Iberia’s decision to withdraw from the race for Olympic’s land service are the stockholders from British Airways, who insisted for the company not to get into operations in a country, which is on a verge of a social revolution. Except for Qatar Airlines and Iberia other companies are withdrawing from the tender as well – Ellactor owned by contractors Bobolas and Kalitzadzis and MyAir a low-cost Italian company, which was a candidate for Olympic’s land services.

In the game for the three companies, heirs of the Greek national airline – airline, land service company, and a company for plane technical support 11 participants have deposited 17 offers. 7 are the offers for the Olympic Airline among which the most serious ones are PCP Capital Partners together with the UAE national airline, the British investment fund, and the American airline Chrysler Air. Two companies are favorites for the land service, which are already woking on Greek soil – SwissPort and GoldAir. For the technical support, the strongest offers come from EuroCorp JV a French/Greek company and Fouad Al Ghanim Group, a Kuwait consortium.

The government is going through the offers for the privatizing of Olympic airlines until January 30th 2009.

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