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Business

DBA to Bid for Olympic Airlines

German low-fare airline DBA is teaming up with an unnamed partner in a joint bid for the loss-making Greek carrier Olympic Airlines, a DBA spokesman said Thursday. Intro, the holding company belonging to DBA's owner Hans Rudolf Woehrl, and its partner were among five interested parties in the race to buy Olympic Airlines, the spokesman said. The Greek government is seeking to privatise Olympic Airlines which made a loss of 23 million euros ($30 million) in 2003. Private Greek rival Aegean Airlines is also in the running. DBA, a former unit of British Airways, was acquired by Woehrl in 2003 for a symbolic price of one euro. It recently announced a deal to take over rival Germania Express (Gexx) in a deal that will transform it into the third-biggest airline in Germany after Lufthansa and Air Berlin.

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