Greece: Olympic Airlines workers protest sale plan

ATHENS, Greece (AP) -- Hundreds of workers at Greece's debt-ridden Olympic Airlines have held a protest in Athens against government plans to privatize the carrier.

An estimated 500 people took part in the protest at the transport ministry.

This month, the EU approved Greece's plan to break up and fully privatize Olympic by the end of 2009, transferring most of its 8,100 staff to public sector jobs. The company will keep its name and logo.

But the EU said Olympic must pay back state subsidies worth 850 million euros ($1.22 billion).

Employee unions oppose the plan, and have staged a series of protests.

The company has accumulated total losses of around 2.7 billion euros ($3.87 billion).

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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