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Old Nov 23, 20, 7:09 am
  #8  
powergean
 
Join Date: Feb 2020
Posts: 316
Originally Posted by NWIFlyer View Post
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.
I think also, that bunkrupt is not between the options for Aegean and government aswell. Owners giving also 60 m . In danger of bankrupt owners woud escape with ther money, not paying 60 m......
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