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"No!" to the merger of Olympic Air with Aegean Airlines said the Competition Commission, reported Imerisia. According to the Vice-President of the European Commission and Commissioner for competition in the union Joaquin Almunia, the proposed merger of the two largest airlines of Greece is not beneficial for consumers and can not be accepted. The formal decision will be voted at the next meeting of the community and is expected to pass even without discussion, says the publication.

Olympic Air and Aegean Airlines together hold about 95% of the airlines serviced in the country. The two dominant companies signed a merger agreement at the beginning of 2010. Then, the merger had to be approved by the European Commission on competition to be finalized. However, the decision has not been easy and the Commissioner of Competition Almunia gave two extensions to make a thorough examination of the effects of setting the new mega-giant in aviation in Greece.