Internal restructuring
Location of affected unit(s)
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

4,000 - 4,500 jobs
Number of planned job losses
Job loss
Announcement Date
3 December 2007
Employment effect (start)
3 December 2007
Foreseen end date
31 August 2008


On 21 September 2008, the Greek Minister of Transport announced that 49% of the shares of Olympic Airlines - the Greek air transport company - will be sold to a new investor by the end of the year. The company's brand name will not be changed and a voluntary exit program will be applied to 2,745 employees.

In 2007, Olympic Airlines announced the loss of 4,000 to 4,500 jobs across Greece. Olympic Airlines employs 9,000, and the restructuring is due to financial problems that the company is experiencing. The job losses will affect staff on fixed-term contracts and are to be implemented by the end of August 2008.

Details about Olympic Airlines case are available on the European Industrial Relations Observatory (EIRO).

For information on further developments, see the newer EIRO factsheet.


  • 3 December 2007: Kathimerini
  • 21 September 2008: Kathimerini


Eurofound (2007), Olimbic Airlines, Internal restructuring in Greece, factsheet number 66074, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66074.