Aegean narrows 1H loss despite difficult conditions

© Centre for Asia Pacific Aviation

Aegean Airlines, Greece’s largest airline by passenger numbers, narrowed losses in 1H2011 (six months to 30-Jun-2011) despite myriad trading difficulties across Europe and sharp fuel price rises. While economic problems have been much more acute in Greece than elsewhere, Aegean Airlines has turned the business around following cost reductions and a network overhaul, leaving it less exposed to the Greek market.

Aegean Airlines reported a net loss of EUR19.82 million in 1H2011, a reduction from EUR32.56 million in 1H2010 despite pressing economic conditions at home and abroad as well as the global rise in fuel prices during the period. At the EBITDAR level, though, which more accurately captures operating costs, earnings fell 18% to EUR16.12 million, despite a 10% increase in top line revenue.

“Despite the difficult economic environment, we have invested in new markets, in view to enhancing [Aegean’s] position internationally and taking advantage of opportunities related to the strengthening of Greek tourism,” managing director Dimitris Gerogiannis said. “We need to translate our positive commercial performance into profits in coming years.” The environment for Aegean continues to be challenging, the MD noted, with the recession in Greece and higher fuel costs expected to lead to losses for the full year, despite its productivity improvements. “Our priorities remain the provisions of innovation and quality to our customers, increasing cost efficiencies as well as retaining the financial and operational flexibility for rapid adjustments within an uncertain business environment.”

Revenue growth offset by cost increases

Aegean’s revenue increased 10% in 1H2011 to EUR295.2 million on a 1% increase in passenger numbers, to 2.9 million. The strong revenue growth was a result of the airline’s move into international markets and a general recovery in pricing conditions and fare increases to help offset the impact of higher fuel prices.

While the net result improved in the period, the airline’s EBITDAR result fell 18% to EUR16.1 million. The EBITDAR result, rather than the net result, more accurately captures input cost and highlights the sharp increase in operating expenses in the period. The EBITDAR margin fell 1.9 ppts to 5.5% as a result of higher input costs.

Aegean Airlines revenue (EUR millions) and EBITDAR margin (RHS) 1H2007 to 1H2011

Expenses, as taken by top line revenue less EBITDAR, increased to EUR279.1 million, a 12.6% increase. Fuel costs increased 43% year-on-year to EUR81.8 million. Aegean said it achieved substantial cost efficiencies in the period as a result of its transition to an all-Airbus fleet. It now has 32 aircraft in it fleet.

Pax traffic up slightly on network changes

Passenger numbers were up 1% in the period to 2.9 million. The 1% increase in passenger numbers resulted in a 10% increase in revenue, which reflects Aegean’s aggressive move into higher-revenue generating international markets.

Aegean Airlines domestic, international and total passenger numbers, and share (%) of total traffic, 1H2009-1H2011

Aegean’s central strategy, a prudent one in light of local economic conditions, has been to expand into short-haul international markets, Greece’s largest source of business and tourism traffic. Aegean has been diversifying away from the troubled Greek market, where domestic passenger traffic has been in decline for almost 18 months, although the year-on-year falls in the domestic travel market are slowing. Traffic still remains below 2009 levels, however. As a percentage of overall seat capacity, Aegean now has far less exposure to the domestic Greek market than one-time merger partner Olympic Air, which has re-focused on domestic and regional markets.

Aegean operates 35 international and 24 domestic scheduled routes, excluding a large number of international routes served by its charter operations.

While Olympic and Aegean offer the same amount of domestic seats, as a proportion of total capacity, Aegean’s exposure to the Greek market is far below Olympic’s.

Greece domestic capacity, seats per week 29-Aug-2011 to 04-Sep-2011

Aegean is the single largest international carrier operating in the Greek market.

Greece international capacity, seats per week 29-Aug-2011 to 04-Sep-2011

Forty-seven percent of Aegean’s capacity is deployed to international markets, while the same figure for Olympic is 17%.

Aegean Airlines international vs. domestic capacity, 22-Aug-2011 to 28-Aug-2011

Olympic Air international vs. domestic capacity, 22-Aug-2011 to 28-Aug-2011

Aegean and Olympic, one-time merger partners, have pursued diverging strategies since the European Commission rejected their merger application in Jan-2011. Aegean focuses on the short-haul international market and Olympic focuses on the regional Balkan and domestic markets. The two airlines’ networks could be described as complimentary, and furthermore they codeshare on the vast majority of their domestic services and compete directly on only two international routes (Istanbul Ataturk and Larnaca). In Mar-2011, Aegean acquired four slots at London Heathrow and Paris CDG from Olympic. Olympic codeshares on both services.

Aegean, which became a member of the Star Alliance in Jun-2010, has also been boosting its international offering by launching and expanding codeshare agreements with other Star partners. The airline has codeshare agreements with bmi, Brussels Airlines, Continental Airlines, Lufthansa, SAS, Spanair, TAP Portugal and US Airways. It does not co-operate with nearby Star member Turkish Airlines. Aegean’s short-term strategy will be to grow major inbound tourist markets such as the UK, France, Italy, Spain, Russia and Israel.

Full-year loss expected

Mr Gerogiannis reiterated his forecast of a full-year loss, despite the airline’s productivity improvements, saying “the environment continues to be particularly challenging, with the recession in Greece and higher fuel costs leading to losses.”

While Aegean’s short-term outlook is weak, the story is the same across Europe and Aegean’s performance is solid in light of economic conditions in its home market. Despite the ongoing crisis in Greece, the company has narrowed its losses, improved productivity and load factors, increased revenue and operating cash flow. It had EUR205 million on the balance sheet at the end of Jun-2011, which “ensures the company’s capacity to operate seamlessly in this challenging environment.”

In line with seasonal trends, Aegean reported a strong second quarter, its first whole quarter following the European Commission’s merger rejection. After changing tack, revenue was up 24% year-on-year in 2Q, with passenger numbers up 15%, led by international passengers, which increased 29%. Average passenger numbers per flight increased 10% to 110. Aegean is trending in the right direction in the vast majority of metrics, but a weak spot for the airline remains average load factors. At 64.6% (1H2011), Aegean’s loads are among the weakest in Europe. While Aegean’s loads have been approximately this level for the past five years, the airline’s aim of achieving profitability, combined with stagnant economic conditions across much of Europe and high fuel prices, should bring this issue to the fore.

APPENDIX:

1H2011 highlights


Central Holidays’ France Vacations Brand Introduces Four Small Group Escorted Vacations with Guaranteed Departures

Travelers Enjoy Escorted European Vacation Inclusions with Added Perk of 15 Traveler Maximum Small Group Size for More Personalized Experiences

Moonachie, NJ (PRWEB) September 01, 2011

Central Holidays Travel Group via its travel brand France Vacations is pleased to present guaranteed departures on four of its newest, small group escorted European vacation packages showcasing key areas of France most requested by travelers. With a minimum of two travelers and a maximum of 15 in these small group trips, vacationers welcome the one-on-one attention that they experience, where the needs of each person can be readily met. Offering guaranteed departures gives travelers the assurance that they can carry out their dream European vacation with no worries of cancellation.

“Central Holidays’ seasoned group leaders provide uniqueness to all of our escorted vacations, not only with their insights into the region, but on these smaller group programs they have more flexibility to present diverse options and excursions based on the group’s interests and requests,” said Fred Berardo, President of Central Holidays. “Beyond that, small group programs provide a more intimate social encounter where travelers tend to have shared goals, and thus relate well with each other and gain an even greater value from the experience.”

Considered by many the best and most convenient way to travel to Europe with friends and family, travelers on these small group programs can enjoy the worry-free advantages of traditional fully escorted vacations along with added benefits and flexibility of touring in a small group. Travelers can sit back and relax in the comfort of their air-conditioned private deluxe minivan or motorcoach, while a professional English speaking driver guide takes care of revealing the treasures of France. These unique offerings provide the benefit of smaller group sizes of 2-15 travelers as well as stays at an impressive selection of hotels in France’s most popular cities and off-the beaten path towns and villages.

Central Holidays’ new small group programs with guaranteed departures include:

France’s Fine Wines and Cuisine – 9 days from $3151 – Venturing through the Southwest of France, travelers savor the best in gourmet meals and world-famous wines of the Bordeaux area, and take-in the region’s breathtaking surroundings on this wine and gastronomy experience. Travelers enjoy: sommelier led wine tastings and gourmet dinners, a cooking lesson with renowned Chef Guy Heraut, extensive sightseeing to enjoy the region’s treasures including visits to the UNESCO World Heritage Sites of Carcassonne and Saint-Emilion, and travels along the ‘Route des vins’ to discover some of the most prestigious names and chateaux, from Pauillac to Margaux.

Bordeaux and the Basque Country – 7 days from $2422 – A true discovery of wine and gastronomy awaits in this delightful tour of Bordeaux, the capital of the Aquitaine region, and the Basque Country. This amazing vacation in France and Spain includes wines tastings and gourmet meals in France’s Bordeaux and Pauillac regions and features the opportunity to enjoy the famous oysters and caviar in Spain’s Arcachon. Travelers will explore Spain’s Basque Country that stretches 100 miles from Bilbao north to Bayonne. As with Aquitaine, the Basque region is experiencing what could be called a 21st-century renaissance, including the spectacular new architecture of the Guggenheim art-museum in Bilbao and the charming resort of San Sebastian to name a few.

Provence and the French Riviera, 13 days from $4064 – Travelers on this itinerary will discover the sparkling blue skyline of the French Riviera, and see the white rocks of Les Baux-de-Provence, then venture on to the Roman vestiges of Arles, before visiting the glamorous villa of the Rothchild family in the Monaco Area. The French Riviera mesmerizes travelers with its sunny climate and beaches, jetsetters, casinos and shop-lined streets, and 125 miles of blissful coastline. Provence offers an abundance of breathtaking landscapes from the Alps to the Mediterranean to rival many countries. Provencal cuisine is exquisite and accompanied by fine wines from its many vineyards make for a gastronomic extravaganza. Add Roman ruins, Romanesque churches and a variety of museums to fulfill a dream trip of a lifetime.

La Belle France – Normandy the Loire Valley including Paris, 12 days from $3507 – This experience commences and comes to a close at Paris’ Ville Lumiere and traveles along through the Normandy and Loire Valley regions. Normandy, boasts over 360 miles of dramatic coastline, from the cosmopolitan resort of Deauville, to the magnificent gothic abbey of Mont St Michel, and an interior dotted with beautiful chateaux and lush green countryside. Visited frequently by U.S. travelers, it is steeped in history of D-day, Vikings and William the Conqueror. The area also features bustling market towns, monuments and landmarks and gastronomic delights from cheeses to cider and Calvados. A heritage of fine wines and delicious cuisine welcomes travelers to the Loire Valley, a region that also offers a fascinating history from troglodyte villages, Attila the Hun, Gauls and Romans, to the famous cathedral of Chartres and fairytale castles nestled in a colorful landscape of rolling green hills, flowers and vineyards.

Prices detailed above are per person, land only, based on double occupancy. Special pricing on air travel and extra nights are available upon request.

About France Vacations:

For nearly 20 years, France Vacations has been creating and delivering exhilarating trips that take travelers to explore the diverse regions of France and beyond. The company offers an extensive collection of Escorted, Hosted, Independent, Cruise Land, and European Rail travel programs that radiate authenticity, quality, and value. From the capital Paris – City of Light – to Burgundy and Champagne in the East…from Western France’s Loire Valley to Nice along the Riviera, travelers rave about the signature qualities of each France Vacations trip. For more information about France Vacations visit http://www.francevacations.net or call 1-800-332-5332.

About Central Holidays:

Europe vacation deals, Italy vacation packages, Spain vacations, and Greece vacations: founded in 1972, Central Holidays offers superior travel programs, value and service to enchanting destinations throughout Italy, Spain, Portugal, France, Greece and Turkey, plus dozens of Mediterranean and European River Cruise itineraries and worldwide Ski programs! For more information, contact Central Holidays at 1-800-935-5000 or visit their website at CentralHolidays.com

Media Contact:

Marlene Oliver

NJC Communications

(305) 491-0512

Cassie Dittrich

NJC Communications

(802) 522-0714

Technical Contact:

Anthony Berardo

Berardo Marketing Group, LLC

201-970-7698

bmg-website.com

# # #

Marlene Oliver
NJC Communications
305-491-0512
Email Information


Central Holidays’ France Vacations Brand Introduces Four Small Group Escorted …

Europe vacation package

Discover the French Riviera on a new Central Holidays escorted program to France.

Central Holidays’ seasoned group leaders provide uniqueness to all of our escorted vacations, not only with their insights into the region (and) they have more flexibility to present diverse options and excursions based on the group’s interests

Moonachie, NJ (PRWEB) September 01, 2011

Central Holidays Travel Group via its travel brand France Vacations is pleased to present guaranteed departures on four of its newest, small group escorted European vacation packages showcasing key areas of France most requested by travelers. With a minimum of two travelers and a maximum of 15 in these small group trips, vacationers welcome the one-on-one attention that they experience, where the needs of each person can be readily met. Offering guaranteed departures gives travelers the assurance that they can carry out their dream European vacation with no worries of cancellation.

“Central Holidays’ seasoned group leaders provide uniqueness to all of our escorted vacations, not only with their insights into the region, but on these smaller group programs they have more flexibility to present diverse options and excursions based on the group’s interests and requests,” said Fred Berardo, President of Central Holidays. “Beyond that, small group programs provide a more intimate social encounter where travelers tend to have shared goals, and thus relate well with each other and gain an even greater value from the experience.”

Considered by many the best and most convenient way to travel to Europe with friends and family, travelers on these small group programs can enjoy the worry-free advantages of traditional fully escorted vacations along with added benefits and flexibility of touring in a small group. Travelers can sit back and relax in the comfort of their air-conditioned private deluxe minivan or motorcoach, while a professional English speaking driver guide takes care of revealing the treasures of France. These unique offerings provide the benefit of smaller group sizes of 2-15 travelers as well as stays at an impressive selection of hotels in France’s most popular cities and off-the beaten path towns and villages.

Central Holidays’ new small group programs with guaranteed departures include:

France’s Fine Wines and Cuisine – 9 days from $3151 – Venturing through the Southwest of France, travelers savor the best in gourmet meals and world-famous wines of the Bordeaux area, and take-in the region’s breathtaking surroundings on this wine and gastronomy experience. Travelers enjoy: sommelier led wine tastings and gourmet dinners, a cooking lesson with renowned Chef Guy Heraut, extensive sightseeing to enjoy the region’s treasures including visits to the UNESCO World Heritage Sites of Carcassonne and Saint-Emilion, and travels along the ‘Route des vins’ to discover some of the most prestigious names and chateaux, from Pauillac to Margaux.

Bordeaux and the Basque Country – 7 days from $2422 – A true discovery of wine and gastronomy awaits in this delightful tour of Bordeaux, the capital of the Aquitaine region, and the Basque Country. This amazing vacation in France and Spain includes wines tastings and gourmet meals in France’s Bordeaux and Pauillac regions and features the opportunity to enjoy the famous oysters and caviar in Spain’s Arcachon. Travelers will explore Spain’s Basque Country that stretches 100 miles from Bilbao north to Bayonne. As with Aquitaine, the Basque region is experiencing what could be called a 21st-century renaissance, including the spectacular new architecture of the Guggenheim art-museum in Bilbao and the charming resort of San Sebastian to name a few.

Provence and the French Riviera, 13 days from $4064 – Travelers on this itinerary will discover the sparkling blue skyline of the French Riviera, and see the white rocks of Les Baux-de-Provence, then venture on to the Roman vestiges of Arles, before visiting the glamorous villa of the Rothchild family in the Monaco Area. The French Riviera mesmerizes travelers with its sunny climate and beaches, jetsetters, casinos and shop-lined streets, and 125 miles of blissful coastline. Provence offers an abundance of breathtaking landscapes from the Alps to the Mediterranean to rival many countries. Provencal cuisine is exquisite and accompanied by fine wines from its many vineyards make for a gastronomic extravaganza. Add Roman ruins, Romanesque churches and a variety of museums to fulfill a dream trip of a lifetime.

La Belle France – Normandy the Loire Valley including Paris, 12 days from $3507 – This experience commences and comes to a close at Paris’ Ville Lumiere and traveles along through the Normandy and Loire Valley regions. Normandy, boasts over 360 miles of dramatic coastline, from the cosmopolitan resort of Deauville, to the magnificent gothic abbey of Mont St Michel, and an interior dotted with beautiful chateaux and lush green countryside. Visited frequently by U.S. travelers, it is steeped in history of D-day, Vikings and William the Conqueror. The area also features bustling market towns, monuments and landmarks and gastronomic delights from cheeses to cider and Calvados. A heritage of fine wines and delicious cuisine welcomes travelers to the Loire Valley, a region that also offers a fascinating history from troglodyte villages, Attila the Hun, Gauls and Romans, to the famous cathedral of Chartres and fairytale castles nestled in a colorful landscape of rolling green hills, flowers and vineyards.

Prices detailed above are per person, land only, based on double occupancy. Special pricing on air travel and extra nights are available upon request.

About France Vacations:

For nearly 20 years, France Vacations has been creating and delivering exhilarating trips that take travelers to explore the diverse regions of France and beyond. The company offers an extensive collection of Escorted, Hosted, Independent, Cruise Land, and European Rail travel programs that radiate authenticity, quality, and value. From the capital Paris – City of Light – to Burgundy and Champagne in the East…from Western France’s Loire Valley to Nice along the Riviera, travelers rave about the signature qualities of each France Vacations trip. For more information about France Vacations visit http://www.francevacations.net or call 1-800-332-5332.

About Central Holidays:

Europe vacation deals, Italy vacation packages, Spain vacations, and Greece vacations: founded in 1972, Central Holidays offers superior travel programs, value and service to enchanting destinations throughout Italy, Spain, Portugal, France, Greece and Turkey, plus dozens of Mediterranean and European River Cruise itineraries and worldwide Ski programs! For more information, contact Central Holidays at 1-800-935-5000 or visit their website at CentralHolidays.com

Media Contact:

Marlene Oliver

NJC Communications

(305) 491-0512

Cassie Dittrich

NJC Communications

(802) 522-0714

Technical Contact:

Anthony Berardo

Berardo Marketing Group, LLC

201-970-7698

bmg-website.com

# # #


Share:



















Greece budget watchdog warns ‘debt is out of control’

The newly-formed State Budget Execution Monitoring Office, staffed by
independent analysts, said in its report: “A significant debt increase, a
high primary deficit and the deep recession have boosted to the extreme the
debt dynamic, which is now out of control.”

Mr Venizelos insisted on Thursday that the document “lacks the validity” of
equivalent international reports.

Greece is currently undergoing an audit which will determine whether it will
be given the latest portion out of an earlier €110bn loan that pulled the
country back from the brink of bankruptcy last year.

The Greek economy is shrinking at an alarming rate, with Mr Venizelos last
week admitting it will likely contract by more than 4.5pc this year, worse
than an earlier 3.5pc forecast.

Greece’s debt, meanwhile, has ballooned to over €350bn. The public
deficit is also running dangerously high, coming in at €14.7bn in the first
half of 2011, compared to a target of €16.7bn for the entire year.

In July it climbed further to €15.5bn, deputy finance minister Filippos
Sachinidis told parliament on Wednesday. He added that part of state revenue
included in this year’s calculations will not be collected until early 2012.

To make up the shortfall, on Thursday the authorities raised sales tax for
food at restaurants and hotels by ten points to 23pc.

The restaurant sector has described the measure as ruinous and some operators
have threatened to withhold the tax to avoid closing down altogether.


Rick Steves: Go wild for Turkey

The Library of Celsus is one of the dramatic sites to be found at Ephesus, a major historic and cultural attraction in Turkey.The Library of Celsus is one of the dramatic sites to be found at Ephesus, a major historic and cultural attraction in Turkey.

The Library of Celsus is one of the dramatic sites to be found at Ephesus, a major historic and cultural attraction in Turkey.

Dreamstime/photo

Turkey is changing fast. And it’s modernizing fast too. For a recent vacation, I hit the road in Turkey, with romantic memories (a few years old) of horse-drawn carriages and villages with economies powered by hay, dung and ducks. While that rustic old world is tougher to find, the deep traditions and warm hospitality of the region are as endearing as ever, especially if you venture past the predictable sights and tourist zones. Turkey has a sparse and frustrating train system, but flights are cheap and competitive bus companies provide easy, comfy and inexpensive connections throughout the nation.

At the crossroads of Europe and Asia, Turkey is looking west and getting there. It is a vast land, bigger than Texas and with a population of 60 million. Only half of Turkey’s 42,000 villages had electricity in 1980. Now they all do. Does modernization threaten the beautiful things that make Turkish culture so appealing? An old village woman assured me: “We can survive TV and tourism because we have strong cultural roots.”

I followed my wanderlust to one of my favourite destinations in Turkey, the village of Güzelyurt in Cappadocia. Families here go about life as they have for generations. I walk down streets that residents from 3,000 years ago might recognize, past homes carved into rock, enjoying friendly greetings of “Merhaba.” Time is not money here. It’s the perfect place to slow down and experience a true “back door” experience: playing backgammon in a smoky teahouse, downing cup after cup of tea.

With the help of a guide, I enjoy a home visit, the perfect two-way cultural exchange. A woman serves me a simple, home-cooked lunch in her village. Then, with the guide as translator, I get to really connect with my host. This is the best way to gain an insight into her world.

Cappadocia is rightly famous for its fantastic land formations and labyrinthine cave dwellings going back to early Christian days. And it’s also famous for a breathtaking way to survey this exotic landscape: by riding a hot-air balloon. I enjoyed a dreamy early-morning glide over a scenic wonderland. Each morning, 50 to 80 balloons lift off, giving lots of travellers a fine memory and stunning pictures.

Ancient ruins litter the Turkish countryside, reminding visitors that the more archaeologists dig, the more they realize that Anatolia (Asian Turkey), along with Mesopotamia, is a birthplace of civilization. And travellers often forget that 2,000 years ago the west coast of Turkey was the heartland of ancient Greece — a region called Ionia. A relatively new excavation at Aphrodisias has uncovered an ancient city dedicated to Aphrodite, Greek goddess of love and beauty. There are ruins at Troy, mythical site of Homer’s Iliad, and Pergamum, with its beautifully sited theatre and Temple of Trajan. At the impressive ruins of Hierapolis, you can walk through a vast and fascinating necropolis — a city of the dead — where tombs line a network of roads, and then take a quick dip in a natural thermal pool amid chunks of Roman columns.

But for me the show-stopper is Ephesus. One of the biggest cities of the Roman Empire, Ephesus had a population of 250,000 and was a thriving seaport until its harbour silted up (it now lies eight kilometres inland from the Aegean coast). It’s famous for its once-spectacular, now-ruined Temple of Artemis — one of the Seven Wonders of the Ancient World — and the dramatic, partially restored Library of Celsus, one of the largest libraries of its time. A walking tour of the still-paved streets is the best way to peel back the layers of dust to understand the everyday lifestyles of the rich and Roman. As I strolled down the broad main drag, I just replaced my fellow tourists with toga-clad ancients to easily imagine the long-ago city, with its statues, bubbling fountains, arches and shops.

When I’ve had enough of blockbuster antiquities, I head for the coast. What better way to take a “vacation from vacation” than by sailing on the Turkish Riviera? Along Turkey’s southwest coast, beautiful wooden boats (called gulets) cruise the azure waters, exploring coves and inlets. I capped off my trip with a day-cruise from the resort town of Bodrum, swimming and lazing while admiring striking views of jewel-like Aegean islands.

Turkey is so rewarding as a destination because it gets me out of my comfort zone and challenges my norms. Experiencing the country’s friendly charm, I am like that balloon lifting off the wild Cappadocian field — free, at least for a while, from the bonds of my culture and ready to experience the world from a different perspective.

Rick Steves ( www.ricksteves.com) writes European travel guidebooks and hosts travel shows on public television and public radio. Email him at [email protected] and follow his blog on Facebook.


Out Magazine Brings The Vice Of The Greeks To Athens With New Greek Edition

Here Media is partnering with Greek publisher G. Piliouras, Ltd. to publish a Greek edition of the gay fashion and lifestyle magazine Out, launching December 2011. The new publication will combine translated content from the flagship magazine with original interviews with Greek personalities, music and entertainment reviews, and regional travel coverage. Like American Out, the Greek edition will hit newsstands ten times a year.

Out’s Greek-language version provides the perfect outlet for a consumer not currently being reached by local publications,” says Here Media VP Stephen Macias, adding that the company was “in the process of securing international agreements for the various Here Media brands and platforms, including print, digital and mobile.”

The expansion of gay media into new markets is good news, but given the precarious position of print—and Greece’s current economic woes—we’re a little surprised by the timing.

Then again, if there’s one thing the Greeks know, its how to appreciate a magnificent Adonis.


Win! Dinner for two at The Real Greek

Closing date: Sat 1st October, 2011

3 couples will win dinner and a bottle of wine at one of London’s The Real Greek Restaurants, plus you’ll also get a copy of The Real Greek Cookbook.

To celebrate Travel Channel’s Greek Week we’re offering 3 goodtoknow users the chance to win dinner for two at one of London’s tasty The Real Greek Restaurants, plus you’ll also get a copy The Real Greek cookbook to enjoy at home.

Each night from Monday 19th September at 6pm, Travel Channel celebrates all things Greek. The season kicks off with the premiere of Charlie Ottley’s tasty new series Flavours of Greece. Julian and Camilla return to Travel Channel’s screens touring Athens and the Greek Islands of Hydra and Spetses and Chef Abroad, Michael Smith, ventures to Greece to celebrate one of the most important holidays, Easter, with a family on Evia Island. This week make Travel Channel your one stop guide to all things Greek.

You can watch Travel Channel on Sky (251). Greek Week is showing on Travel Channel every night from Monday 19th September to Sunday 25th September at 6pm.

To find out more about Travel Channel and The Real Greek visit travelchannel.co.uk and therealgreek.com

To be in with a chance of winning just answer the following question.

Need some help? Click on the link below…

http://www.goodtoknow.co.uk/recipes/pictures/13305/Holiday-food-at-home/2

Question


There’s Not Much To The Report That Greece Considered Leaving The Euro

Highway Exit

Image: UPTRAIN via Flickr

See Also:

image

Germany Flag

birds-bickering


UPDATE: After speaking to Cleary Gottlieb and a reporter from the Greek newspaper Eleftherotypia, we have found that an early report out of Greece was insignificant.

A paper on the legal issues involved with a country leaving the Euro was presented at an academic conference held in Rome by Cleary Gottlieb. There was no discussion of Greece in particular.

Here’s our guide to what can go wrong in Greece and when