Olympic Airlines in Trouble

The prime minister of Greece unveiled plans this week to help the national air carrier Olympic Airlines through its current troubles. Plans were announced to cut staff by offering voluntary redundancy packages or placements in other state jobs.

The airline is currently in debt to the tune of 130 million euro. Costas Karamanlis (pm) outlined his ambitions for the company to be become strong again and also spoke of the proud tradition that the airline must uphold.

Olympic Airlines employs over 8000 people at present. Efforts made to privatize the airline have proved fruitless thus far. The Greek PM is under pressure at the moment from the Greek public who believe that the present Government is hitting low income workers hard.