Olympic Airways plane lands in 2006
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Could more mergers follow Aegean's acquisition of Olympic?

30 December 2013 Last updated at 10:25 GMT

In October, Greece's former flag carrier Olympic fell into the hands of rival airline Aegean.

Now the industry is asking whether this could mark the start of a series of further mergers and acquisitions in Europe.

Some think that profits are so thin that companies desperately need to consolidate - and they are hoping the process will start in 2014.

Jeremy Howell reports.