This article from NYTimes.com has been sent to you by psa188@juno.com. Greek Airline Cuts 2, 000 Jobs February 21, 2002 By THE ASSOCIATED PRESS Filed at 4:19 p.m. ET ATHENS, Greece (AP) -- Greece's debt-ridden state airline will shed 2,000 jobs, or more than a quarter of its work force, and spin off some operations while private investors are sought, the government said Thursday. The rescue plan is designed to bolster Olympic Airways' flying operations while spinning off other departments such as repair, catering and ground handling. It foresees cutting the jobs through voluntary departures and early retirement and a review of unprofitable routes and work rules. The government will seek between 100 million and 150 million euros ($90 million and $135 million) in the bid to keep Olympic from bankruptcy. Repeated attempts to sell the airline have failed. Earlier this month, the government called off talks with the Australia-based venture capital company Integrated Airlines Solutions Consortium, which failed to provide adequate financial guarantees for buying a 51 percent stake. Credit Swiss First Boston, which is advising the government on the sale, will continue to seek investors, Finance Minister Nikos Christodoulakis said. ``The Cabinet unanimously decided to proceed with restructuring Olympic Airways in order for it to be attractive in the markets,'' Christodoulakis said. http://www.nytimes.com/aponline/business/AP-Greece-Olympic-Airways.html?ex=1015328044&ei=1&en=1e8c9c048cf98868 HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@nytimes.com or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@nytimes.com. Copyright 2002 The New York Times Company