The airline's headquarters are in Building 57 at Athens International Airport in Spata,[4][5] and its registered seat is in Koropi, Kropia, East Attica.

After three weeks of negotiations with MIG, on 4 March 2009, Aegean Airlines and Greek-American consortium Chrysler Aviation, also submitted offers to buy the Group.

On 6 March 2009, Development Minister Kostis Hatzidakis announced the sale of the flight operations and the technical base companies to MIG.

It also acquired the right to use the two hangars, the cargo unit of Olympic Airways Services and other facilities at Athens International Airport for 25 years.

Shortly after the deal was struck, MIG announced the recruitment process for the three new companies, as well as new tenders for the acquisition or lease of new aircraft.

[19] In a press conference on 17 September 2009, MIG president Andreas Vgenopoulos, announced new code share deals, and stated that Olympic Air also has plans to join SkyTeam in the future.

[21] Furthermore, Vgenopoulos stated the company would honor its commitment to give the new government three months to re-nationalize Olympic if it desired.

[25] In an October 2009 interview with ATWOnline, CEO Antonis Simigdalas stated that Olympic was now carrying around 10,000 passengers a day with a domestic market share of about 30 percent.

[26] In an interview with Flight International, Simigdalis stated that Olympic Air's domestic market share had grown to 47 percent by December 2009.

On 10 December 2009, the company announced that mobile phone check-in is now available for flights departing Athens Airport, making Olympic the first Greek airline to offer this service.

In February 2010, initial shareholder discussions took place to consider co-operation between major competitor Aegean Airlines and Olympic Air fueling rumors of a possible merger.

[37][38] Vgenopoulos further stated that the merger also would preserve and strengthen the Olympic brand name, an inherent piece of Greek national tradition.

[39] At the time of the merger announcement, Aegean was in the process of becoming a full Star Alliance member,[32] while Olympic Air was forging ties with SkyTeam pre-merger.

[40] Star Alliance welcomed the proposed merger, releasing a statement stating "The integration teams from both sides will soon meet to assess the necessary steps, in order to guarantee a smooth transition of the merged Aegean Airlines and Olympic Air operations into the Star Alliance network".

[44] In an interview with Air Transport World in August 2010, Dimitris Gerogiannis, managing director of Aegean Airlines, stated that their main goal at the time was making the merger work.

[45] Later than month, Aegean posted its first losses in years, further displaying an urgent need for the merger, while both airlines are planning various cuts.

[49] Although a specific reason for the delay was not given, according to publications, the commission typically defers decisions when companies offer to take steps that would ease concerns.

[49] On 17 November 2010, Commissioner Joaquin Almunia confirmed that the two carriers still face some difficulties in their efforts to overcome antitrust concerns over the merger, but stressed that they still have weeks ahead of them to find an adequate solution until the planned 12 January 2011 decision.

[61][62] Both airlines also stated that they will study the block report issued by the EU, and after careful analysis and discussion with their advisers, will decide whether to appeal.

[63] On 21 October 2012, Aegean Airlines announced that it had struck a deal to acquire Olympic Air for a sum of €75 million, pending approval by the European Commission.

[66] In the event that the European Commission did not approve the deal, Olympic Air would still retain the money, with Aegean Airlines owning a 17% stake in the company.

Olympic Air is 100% owned by Aegean Airlines,[70] which bought the company for €72 million in cash, to be paid in installments.

The brands and logos of the two airline companies were expected to remain intact, with each one retaining distinct fleet and flight operations.

Available financial and other trends for Olympic Air (for years ending 31 December) were: (*The 2009 figures reflect the fact that the airline only commenced operations on 29 September 2009.)

[76] New uniforms were also selected in an online vote, after an open invitation to designers for Olympic Air flight attendants.

On 24 November 2014, Travelair Club was absorbed by Aegean Airlines's frequent flyer programme Miles & Bonus,[79] with appropriate status matches.

[88] In March 2013, it was reported that the airline would retire its remaining Airbus aircraft effective immediately,[89] though two A319s continued to operate selected domestic routes, mostly to Santorini and Alexandroupolis, until the end of the summer season.