Sabena Boeing 747s with four-engined Airbus A340. After the liberalisation of the airline industry throughout Europe and the economic consequences of the Gulf War, the Belgian government, the main shareholder of the company, realized that Sabena had little chance of surviving on its own in this very competitive market, and began searching for a suitable partner. Sabena remained in a poor financial state, and year after year the Belgian government had to cover losses, however, it was however prevented from providing new funds due to EU State Aid rules. Around 1987, SAS tried to merge with the carrier, but the merger
TAE Greek National Airlines TAE Greek National Airlines TAE Greek National Airlines (, , literally "Technical and Aeronautical Holdings—National Air Lines"), originally branded in English as "TAE National Greek Airlines", was formed by the Greek government in 1951 to be the national airline of Greece. The airline operated without competition on domestic routes in Greece and served a small number of European and Middle Eastern cities. The airline was sold to Aristotle Onassis in 1957 and he renamed the carrier Olympic Airways. In the post-World War II era, there were four airlines operating in Greece: Of these, T.A.E., Air Transport of Greece and Daedalus