Συγχωνεύσεις και εξαγορές : η περίπτωση της Ολυμπιακής
Mergers and acquisitions : case of Study Olympic Air
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Abstract
Nowadays, the economic environment is portrayed by solid economic liberalization and fierce competition. Consequently, the majority of companies adopt strategies of M&A either to survive or to increase their market share.
In this paper, the strategy of M&A will be investigated. Notably, the airline industry and the recent acquisition of Olympic Air by Aegean Airlines will be examined.
The thesis is organized into three sections and sub-sections. The first part contains the theoretical approaches to the subject, whereas the second one refers to the aviation industry. Lastly, the third part introduces the acquisition of Olympic Air by Aegean Airlines.
First of all, the theoretical background of M&A on business sector in general will be examined. More specifically, the types of M&A, their benefits, the interests of businesses which are involved into, and the synergies that occurred after them are analyzed and classified properly. An emphasis will be given into the role and the impact of business culture during M&A.
Then, the aviation industry in domestic and international environment and the role of M&A into them is examined, by researching in detail the recent acquisition of Olympic Air by Aegean Airlines. The profile of these companies is reported, the massive role that European Commission responsible for competition had played, during the first unsuccessful attempt of possible acquisition, will be evaluated too. Finally, the outcomes of the acquisition of Olympic Air by Aegean Airlines into the financial position of Aegean Airlines in the time period of 2010-2014 are interpreted.