Booking on Olympic Airlines?

This past week, the European Union has applied additional pressure on Greece to finally settle the long-standing problem of massive illegal Greek government subsidies to troubled Olympic Air, the flagship airline of Greece.

While there has been talk and restructuring efforts in the past while Greece has desperately sought a buyer for Olympic, it looks like this time the airline's operations will have to be severely pared back. The EU would prefer that Olympic give up all international flights and become a domestic, Greece-only airline.

While it is still unclear what the timetable will be on this latest potential change for Olympic Airlines, when and if it actually happens, travelers may want to be cautious about booking international flights on Olympic Airlines in 2008 until the changes have all been made and it's clear what the future will hold for Olympic Airlines.

Chances are domestic operations within Greece will continue relatively unchanged for the near future, as some islands of Greece have no other air link at all to the Greek mainland and it sounds as if the Greek Ministry of Transportation is determined that the airline will continue operating at least in this capacity. They are also promising job security for Olympic Airlines' 9000 employees, which may be a bit optimistic if the airline truly gives up all its international routes.

Ironically, we may soon be seeing a return to Olympic Airlines'roots - it began its life as Aristotle Onassis' private air access between the Greek islands.

What's the Effect on Your Travel Plans for Greece?

Expect that the coming year may be a tight one for flights to and from Greece, especially on routes served by Olympic Airlines. And if flights are full, prices will tend to be high. If you know you're going to Greece next year, my advice is to book ahead as far as you can.