Olympic Airlines

Olympic Airlines. It was the flag carrier of Greece from its founding in 1957 until operations ceased in 2009. Established by the famed Greek shipping magnate Aristotle Onassis, the airline became a symbol of national pride and a vital link connecting Greece with Europe, North America, and beyond. Its distinctive blue and white livery, featuring the ancient Olympic Rings, was a familiar sight at airports worldwide for over five decades.

History

The airline's origins trace back to the financial struggles of its predecessor, TAE Greek National Airlines, which was acquired by Aristotle Onassis in 1956. Officially launched in April 1957, it quickly modernized its fleet with new aircraft like the Douglas DC-6 and later jets including the Boeing 707 and Boeing 720. Under Onassis's ownership until 1974, the carrier expanded its international network significantly, inaugurating prestigious transatlantic services to New York City via Montreal. Following the collapse of the Greek military junta of 1967–1974, the airline was nationalized by the Hellenic Republic government. Decades of state control were marked by chronic financial difficulties and restructuring attempts, culminating in its eventual privatization. In 2009, following European Union rulings on state aid, its assets and flight operations were transferred to the new private carrier Olympic Air.

Fleet

Throughout its history, the airline operated a diverse range of aircraft. Its early propeller fleet included the Douglas DC-3, Douglas DC-4, and Douglas DC-6. The jet age began with the introduction of the Boeing 707 and Boeing 720 for long-haul routes, while shorter European services were flown with the Sud Aviation Caravelle and later the Boeing 727. In the 1970s and 1980s, it operated a mix of Boeing 737 and Airbus A300 models. Its final long-haul aircraft were the Boeing 747-200 and later the modern Airbus A340-300, used on routes to North America and Australia. The regional and domestic network was served by types such as the Britten-Norman Islander, Shorts 330, and various models of the Bombardier Dash 8.

Destinations

At its peak, the airline maintained an extensive global network from its primary hub at Athens International Airport (and later Eleftherios Venizelos International Airport), with a secondary hub at Thessaloniki International Airport. Within Greece, it provided essential air links to numerous islands including Crete, Rhodes, Mykonos, and Santorini. Its European network covered major capitals like London, Paris, Rome, Frankfurt, and Moscow. Intercontinental services were a hallmark, with key long-haul destinations including New York City, Toronto, Montreal, Chicago, Johannesburg, Bangkok, and Sydney. Seasonal charters also connected Greece with many leisure markets across Europe.

Corporate affairs

The airline's headquarters were located in Athens. For most of its existence, it was a state-owned enterprise under the oversight of the Greek Ministry of Transport. Its main maintenance base was at Athens International Airport. The airline operated its own flight training academy and had several subsidiaries, including Olympic Aviation for regional services. Its frequent flyer program was known as the Icarus Frequent Flyer Program. The carrier was a member of the International Air Transport Association and had codeshare agreements with several airlines, including Cyprus Airways and Aeroflot. Its branding and iconic livery, designed by Aristotle Onassis himself, were considered among the most recognizable in global aviation.

Accidents and incidents

The airline's safety record included several notable accidents. In 1969, a Douglas DC-6 crashed near Keratea on approach to Athens, resulting in fatalities. A significant disaster occurred in 1974 when a Boeing 707 operating a flight from Paris to Athens was struck by a bomb over the Ionian Sea. In 1976, a Boeing 727 collided with a British Royal Air Force Hawker Siddeley Nimrod near Zagreb in what was known as the Zagreb mid-air collision. Another fatal accident took place in 1978 when a Boeing 727 crashed into a mountain near Thessaloniki due to pilot error. Its final major incident was in 1989 when a Bombardier Dash 8 overran the runway at Ioannina National Airport.