On the 29th of September, 2009, Olympic Air commenced operations, after it took over properties like the name, the corporate logo, landing rights and the technical base of the old Olympic Airlines. Headquartered in Athens, its main hub of operations is Athens International Airport.
In 2009, Olympic Air started offering Mobile Check-in service through the mobile website.
In 2010, Olympic Air launched a new service, innovative for the Greek travel market: last minute flights with significantly lower fares. Also, Olympic Air wins Best Creation Award during the 26th International Tourism Fair, PHILOXENIA, at Thessaloniki International Exhibition Centre Helexpo.
Also in 2010, Olympic Air started flights directly connecting London to Thessaloniki and signed a codeshare agreement with Etihad Airways to Sydney/Melbourne.
In 2011, KLM Royal Dutch Airlines and Olympic Air announced they have signed a codeshare agreement. Olympic Air wins “Airline Reliability Performance” Award for Nº1 in Punctuality.
In 2012, Marfin Investment Group Holdings S.A. announced the signing of the agreement for the sale of 100% of Olympic Air to Aegean Airlines. The consideration of 100% of Olympic Air has been set at €72 million in cash to be paid in installments. The amount of €20 million has already been advanced on October 22, 2012, and the rest will be payable in 5 equal annual installments.
On October 23, 2013, Aegean Airlines completes acquisition of Olympic Air. It has signed a definitive agreement to acquire Olympic Air from Marfin Investment Group Holdings S.A. The transfer of 100% of Olympic Air shares was completed the same day. Olympic Air will become a subsidiary of the listed Aegean, but each company will retain distinct fleet and flight operations, and the two brands and logos of the airlines will remain intact.
As of February 2014, Olympic Air is a service provider for its parent company, Aegean Airlines. Olympic Air continued to operate the domestic routes (some of them in co-operation with Aegean), but all the international flights carry Aegean’s flight prefix although some are operated by Olympic Air.
In November 2014, Travelair Club, Olympic Air’s frequent flyer program, was absorbed by Aegean’s frequent flyer program, Miles+Bonus.
In 2017, with the primary hub at Athens International Airport and secondary hubs at Macedonia Airport in Thessaloniki and Diagoras Airport in Rhodes, Olympic Air was operating approximately 168 flights per day to a total of 33 Greek destinations.
In the first nine months of 2019, Olympic Air and Aegean Airlines, its parent company, carried 11.6 million passengers, reporting a 7% growth in passenger traffic.
No deadly incidents involving Olympic Air have been recorded so far.
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