Olympic Airlines Benefits by Court Ruling

Beleaguered Greek national carrier Olympic Airlines just got an early Christmas present - a Greek court ruled that the airline was underpaid by the Greek government to the tune of nearly 564 million euros.

Since the European Union has demanded that the airline pay back about 700 million euros in "illegal" government subsidies, this goes a long way to evening the score and may make a long-sought sale of the airline to private investors possible again.

What's the effect on your travel plans? Probably minimal for the moment, though some of the Olympic Airlines executives may be smiling more. But many observers believe that the ultimate sale of Olympic Airlines will benefit travelers and bring ticket prices down while raising service standards.

More from the International Herald Tribune: Greece's Olympic Airlines wins cash reprieve from court.

Compare airfares to Greece here: Find Greek Airfares

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