Athens - The Greek government on Tuesday was waiting for the green light by the European Commission to replace its debt-ridden state airline, Olympic Airlines, with a new carrier under the name Pantheon Airways.
Under the consolidation plan submitted by Greece, Olympic Airlines will be replaced by Pantheon Airways, which will take part in an international privatization tender.
According to state television NET, the new company will keep running all domestic flights, but will drastically reduce its international routes.
The European Commission on Wednesday had asked the European Union's highest court to impose daily fines on Greece for failing to recover illegal state aid given to Olympic Airways.