Olympic Airways has five suitors

Five parties have reportedly expressed an interest in buying the troubled Greek carrier Olympic Airlines, in what it being described as the airline’s “last chance for survival”.

According to the BBC News website, the fellow Greek carrier Aegean Airlines and Intro, a company owned by the German no-frills airline DBA, are among the bidders.

The website reports that the other three are investment organisations in Greece, UK and Holland.

The sale is expected to be completed within three months, the BBC reports; the proposed sale is reportedly aimed at reducing Greece’s budget deficit, which has grown fast since the country hosted the Olympic Games last year.

Report by Tim Gillett, News From Abroad Ltd www.newsfromabroad.com