FlyerTalk Forums - View Single Post - Aegean might be (partially) nationalised!
Old May 5, 2020, 4:49 am
  #6  
DELLAS
 
Join Date: Jun 2006
Posts: 5,899
Well its pure speculation and has not actually been mentioned that it could be renationalised. Just for clarification and always good to provide a link to ones source this is all that has been ''officially'' said :

Covid-19: Greece’s AEGEAN Airlines Counting on Government Support

Greek national carrier AEGEAN is hoping for government support after the company suffered massive losses due to the coronavirus (Covid-19) outbreak.

According to AEGEAN Chairman Eftichios Vassilakis, it will take the Greek airline at least six months to recover and two to three years to reach pre-coronavirus levels with revenue currently at 0.05 percent of its daily total.

Speaking during a recent online event held by Endeavor Greece, Vassilakis, who is also vice president of the Greek Tourism Confederation (SETE) said that the top priority now was to protect the airline and make sure it will be flying once the coronavirus crisis subsides.

“Right now, we are working to continue operations without any demand… and at the same time making efforts not to betray our relationships with our employees, with our customers, with our suppliers” said Vassilakis, who is also on the board of Endeavor Greece.

https://news.gtp.gr/2020/05/04/covid...nment-support/


No real surprises as even the strongest of airlines will need some sort of support or tax breaks going forward. Aegean is no different. The Greek government is not in a good position to be throwing money at airlines either. Greece is looking to slowly open its tourism market from July although this is a flexible date. Of course all things are being looked at including testing passengers at airports before flying and would need to be part of an EU agreement from originating countries.

Im sure Aegean would totally exhaust all other avenues should it need to before even looking at a government loan and of course the implications that it would have on the business. The last thing Greece needs now is to get involved in airlines and the last thing Aegean needs now is state interference and a veto at the top table. Of course Aegean is a vitally important part of Greek tourism and the Greek economy. We saw that in the recent years of crisis and how it helped to rebuild the country.
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