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Old Nov 23, 20, 6:02 am
  #7  
NWIFlyer
Senior Mod and Moderator: Aegean Miles&Bonus and British Airways
 
Join Date: Jan 2009
Location: Norwich, UK
Programs: A3*G, BA Gold, BD Gold (in memoriam), IHG Spire Ambassador
Posts: 6,949
I shared a similar conversation with a fellow passenger on the LHR-ATH route last month. He was interested in which airlines I thought might survive the pandemic, and which would fall by the wayside.

My view then, and now, is that the Greek government cannot afford for A3 to fail - its fortunes are too intertwined with the tourist industry (18% of GBP, 10% of employment - massive by anyone's standards) and it's probably one of the few airlines with sufficient fleet size in the longer term to support the subsidised internal routes given the acquisition of OA.

So I'd be amazed if there isn't some sort of state help advanced in this situation, and equally difficult to see how the EU could refuse that happening given - as powergean has highlighted - many other national governments have had to do the same for their own primary airlines.

I'd regard this as very good news for A3 - any government, even Greece's with its relatively poor historical credit rating, is going to be regarded as cast iron in terms of a loan guarantee compared to any airline at this moment in time, so this should give confidence to other lenders should A3 seek multiple funding routes.

Last edited by NWIFlyer; Nov 23, 20 at 6:38 am Reason: Correct GDP figure to a more up to date reality
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