photo by Ada Be via Flickr
It just goes to show you that one country’s economic collapse is another’s opportunity. With the Greek economy in shambles and the country’s airlines in almost equally bad shape, Gulf carriers like Qatar Airways and Emirates have been quietly capitalizing on the void with new routes.
Greece’s own airlines continue to suffer in the wake of the collapse of the country’s flagship carrier, Olympic Airlines, which ceased operating in 2009, with remaining airlines like Aegean, seeing ticket sales plummet (although they spiked for the referendum, as Greeks returned home to vote).
A spokeswoman for Aegean Airlines said in the Wall Street Journal:
“Since the first day of capital controls, international bookings and domestic bookings have dropped significantly.”
Emirates, on the other hand, sees the downturn as a chance to expand. Owing to the Gulf’s geography, eastern routes are particularly favored, especially considering Australia is home the world’s second largest Greek population. Flights to the United States are also under consideration, after the Greek government asked Emirates to extend flights there, according to Emirates President Tim Clark, although there are no immediate plans to do so. Currently, only Delta and American Airlines serve Athens directly from the United States.
Qatar and Turkish airlines are also getting in on the action, both set to offer several thousand more seats to Greece next month than Emirates currently does. No doubt all are hoping tourists quickly overcome their fears about the situation and book trips, especially as local desperation for the business can lead to some tremendous deals.