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Tue 16 Dec 2008 09:05 AM

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Qatar Airways mulls move for stake in Greek carrier

Gulf state's airline signs letter of interest in debt-ridden Olympic, decision in 'near future'.

Qatar Airways is considering moves to take a stake in debt-ridden Greek airline Olympic.

"We have signed a letter of interest in Olympic, we are evaluating Olympic. We should be able to make a decision on Olympic sometime in the near future," Qatar Airways CEO Akbar al-Baker said in comments published by Qatar daily Gulf Times on Tuesday.

The privatisation of debt-laden Olympic Airlines was approved by parliament in Athens in October.

In September, the European Union approved the sale scheme for the airline, but made approval conditional on the airline paying back state subsidies.

Olympic Airlines serves some 78 destinations and has a fleet of 41 aircraft.

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