MIG HOLDINGS S.A.

Skyserv Handling services the new name of Olympic Handling, Share Capital Increase

Athens, 12 December 2013. Marfin Investment Group (MIG) announces the name change of its subsidiary Olympic Handling to Skyserv Handling Services. The company's corporate identity change will be finalised in the near term.

 

In parallel, MIG will proceed with a share capital increase of circa 38m in Skyserv in order to enhance the company's capital as well as to realise its business plan based on the new strategy consequently to the recent significant changes in the national air travel sector.

 

Skyserv is active in the Greek ground handling sector where there is intense competition. The company aims, through the realization of its new strategy, to adapt to the new market conditions emphasizing on the quality of the services provided, increasing its market share and exploring international strategic collaborations as well as returning to profitability in the near future.

 

The performance improvement of Greek tourism as well as the soaring increase in the number of charter flights to Greek destinations; create the conditions for significant recovery in the company's activities in the following years. Already in 2013, the company managed to increase by 13% the number of flights it serviced, excluding Olympic Air. Also in 2013, the company contracted new long- term agreements, enhancing its client base. The improvement in the company's performance is expected to continue during 2014, at the end of which the serviced flights are expected to increase by a double digit percentage.

 

The company continues its intensive preparations in order to be certified by ISAGO, which is expected to occur until April 2014. This particular certification goes hand in hand with the aim to provide quality services. Moreover, the company was already received a number of commendations in the last two years from international air carriers.