The Commission opened an in-depth investigation into the proposed acquisition of Olympic Air by Aegean Airlines, both of Greece. The companies are the two main Greek airlines offering passenger transport services on Greek domestic and international routes. The Commission’s initial market investigation indicated that the proposed transaction would raise serious competition concerns on a number of Greek domestic routes where Aegean and Olympic currently compete or are well placed to compete. These routes are used by Greek passengers as well as by a large number of foreign travelers, given the popularity of Greece as a tourist destination. The Commission’s investigation indicated that the proposed acquisition would give the combined entity a monopoly on six domestic routes departing from Athens and would remove an important competitor on several other domestic routes. Furthermore, the initial market investigation provided indications that the two airlines' largest competitor, Cyprus Airways, may not continue to act as a viable competitive force on the Greek domestic market in the future. Finally, the initial market investigation revealed no indications of entry prospects that would occur on a scale and within a timeframe capable of constraining the merged entity and disciplining its pricing behavior. The Commission considered that the commitments proposed by Aegean during the preliminary investigation did not address the Commission’s concerns. The Commission now has 90 working days, until 3 September 2013, to make a final decision on whether the proposed transaction would significantly impede effective competition in the EEA or any substantial part thereof. It should be noted that in January 2011, the Commission prohibited the first proposed combination of Olympic Air and Aegean Airlines. Source: Commission Press Release 23/4/2013