Greece sells jets once owned by defunct Olympic Airways

Greece's finance ministry said Sunday it has sold four Airbus A340-300 jets once owned by the now defunct carrier Olympic Airways to Apollo Aviations Group for $40.4 million (32.9 millions euros).

"This sale is included in privatisation plans as part of the medium term strategy for Greek finances" demanded by international creditors, the ministry said in a statement.

According to its website, Apollo specialises in "discounted original equipment manufacturer parts by acquiring and dismantling mature aircraft and engines."

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The company also leases and trades commercial aircraft and engines.

by Nasser Abu Bakr © 2012 AFP

Source: AFP
Date: Jul 8, 2012