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1
Preheat the oven to 400 and position a rack in the lower third.
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2
In a large bowl, using a handheld electric mixer, beat the egg whites until soft peaks form.
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3
Add the salt and beat just to combine.
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4
Line a large baking sheet with parchment paper.
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5
Spread a 1/2-inch-thick layer of the salt foam on the paper in the shape of the fish.
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6
Brush the fish lightly with oil and set it on the salt foam.
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7
Stuff the orange slices and thyme sprigs in the cavity and cover the fish with the remaining salt foam; be sure to coat it completely and seal any gaps.
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8
Poke a hole through the salt into the thickest part of the fish, just behind the head.
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9
Bake the fish for about 40 minutes, until the crust is deeply golden and an instant-read thermometer inserted in the center of the fish registers 140.
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10
Let the fish rest for 10 minutes.
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11
Meanwhile, in a large, deep skillet, melt 2 tablespoons of the butter.
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12
Add the fennel, cover and cook over moderate heat, stirring occasionally, until softened, about 5 minutes.
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13
Uncover and cook, stirring frequently, until the fennel is tender and browned, about 10 minutes longer.
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14
Add the wine and cook until evaporated.
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15
Add the olives and the orange zest and juice and cook for 1 minute.
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16
Stir in the chives and the remaining 1 tablespoon of butter.
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17
Crack the salt crust and remove the top and sides.
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18
Carefully remove the skin from the flesh and, using an offset spatula, lift the fillets off the center bone.
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19
Transfer the fillets to a plate.
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20
Carefully lift up the bone and discard.
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21
Lift the flesh from the underside of the fish, leaving the skin and salt behind.
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22
Serve the fish with the fennel and olives.
