Coca-Cola's chief executive Muthar Kent told CNN's Richard Quest that the company had honoured its tickets, giving some to young people in Britain as well as customers and partners.
He said: "We not only have brought a great number of partners and customers but also we have worked with youth in Britain and given opportunities for those tickets to be used by people that are termed as Future Flames, young consumers, youth - from the street games that we also support for the under-privileged, bringing sport to under-privileged youth. So we have a very, very high usage of tickets from all the tickets that have been allocated to us as a partner of the Olympic Games."
Sponsors were initially blamed for not using their allocation, with culture secretary Jeremy Hunt speculating that some seats belonged to them. Sponsors, in fact, are allocated just eight per cent of seats, while national Olympic committees were given 1.2 million of the 8.8 million available. Five per cent of the total was reserved for athletes and officials.
The uproar caused by the fiasco coudl result in corporates being given forced to occupy their seats 30 minutes before an event starts.
Coca-Cola also issued a full statement: "At Coca-Cola, we have given the majority of the London 2012 tickets that we were able to purchase as a Worldwide Partner away to the public via competitions and promotions that allowed them to choose the event they really wanted to attend, giving thousands of people the opportunity to participate in the greatest show on earth. In addition to consumers, we have also invited some longstanding partners, employees, and customers to attend the Games. All of our guests are incredibly excited to be able to be a part of London 2012 and we believe that useage levels of our tickets have been extremely high so far."