Greece on Friday said it had sold four disused Airbus A340 jets to Miami-based aircraft traders Apollo Aviation for 40.4 million dollars (31 million euros) under an ongoing asset push for quick cash. A government statement said the sale had been approved by a five-ministry privatisation committee and a finance ministry source specified the price.
"Apollo Aviation Group was the highest bidder," the government said. The four aircraft were previously part of Olympic Airlines, Greece's former state carrier that was privatised in 2009. The Greek state had been trying to sell the planes since November 2010.
Athens last year pledged a sweeping privatisation drive in return for bailout loans from the European Union and the International Monetary Fund. The process originally aimed to raise 5.5 billion euros by the end of the year, and 50 billion overall by 2015. The finance ministry now hopes to close the year with 1.8 billion euros in revenue and another 9.3 billion in 2012.
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