Olympic Air S.A. (Greek: Ολυμπιακή) is a regional airline, a subsidiary of the Greek airline carrier Aegean Airlines. It was initially formed from the privatization of the former Greek national carrier Olympic Airlines, a company that carried the name Olympic Airways from 1957 to the beginning of the 21st century. Olympic Air commenced limited operations on 29 September 2009, after Olympic Airlines ceased all operations, with the official full-scale opening of the company taking place two days later on 1 October 2009. Its main hub is Athens International Airport, with Rhodes International Airport serving as secondary hub. The airline's headquarters are in Building 57 at Athens International Airport in Spata, and its registered seat is in Koropi, Kropia, East Attica.

The airline uses the IATA code OA that it inherited from Olympic Airlines, and the ICAO code OAL. The airline initially launched using the ICAO code NOA, but later reportedly bought the OAL code used by Olympic Airlines.

On 22 February 2010, Olympic Air and its main competitor Aegean Airlines announced they had reached an agreement to merge their operations, phasing out the Aegean brand. After an inquiry by the European competitions commission, it was announced on 26 January 2011 that the merger was blocked citing anti-competitive concerns. However, the sale to Aegean Airlines was eventually approved by the EU Competition Commission on 10 October 2013, and the airline is now a subsidiary of Aegean Airlines. It currently operates 12 Bombardier Dash 8 aircraft and 2 ATR 42 , its former fleet of A320 and A319 aircraft having been sold during the various processes covered above.

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