Olympic Airways

was established as Greece's flag carrier in 1957, when the Greek shipping magnate Aristotle Onassis acquired and reorganized the country's state aviation operations, which themselves had roots in earlier Greek carriers consolidated in the early 1950s. Under Onassis's personal direction, Olympic Airways became known for its distinctive branding and high standards of service, growing into a respected international airline during what is often called its golden era. Following Onassis's departure and death in the mid-1970s, the airline was nationalized and passed into full Greek government ownership.

Under state control Olympic struggled financially for decades, burdened by losses and repeated European Union scrutiny over government subsidies. The original company was wound down, and a privatized successor, Olympic Air, began operations in 2009. In 2010 Olympic Air and Aegean Airlines proposed a merger, which the European Commission initially blocked in 2011 on competition grounds before approving the acquisition in 2013. Olympic Air subsequently became a subsidiary of Aegean Airlines, today operating mainly domestic and regional flights to Greek islands and smaller airports.