Greece shields Olympic Air from creditors

Greece has given its ailing carrier Olympic Airlines temporary protection from creditors after an adverse EU Commission ruling on state aid made the government's effort to privatise it more difficult.
In an amendment to an education bill voted into law by parliament late on Thursday, Olympic Airlines and Olympic Airways-Services were granted protection from creditors until February 28, 2006.
"It is imperative that the European Commission's decision be studied in depth...to determine whether the continuation of the privatisation tender is possible," said a document issued by parliament on Friday, explaining the reasons for the amendment.