Air Berlin lenders eye asset sale by mid-September - sources
The buyers of insolvent Air Berlin`s
Suitors have until Sept. 13 to make bids and present their business plans to the airline`s administrator and lenders, two sources told Reuters.
A committee of creditors overlooking the liquidation aim to come to an agreement who will buy what shortly thereafter, the sources said, with one of them saying the decision could come as early as Sept. 15.
Another source cautioned that the schedule was ambitious because new suitors keep lining up.
Air Berlin Chief Executive Thomas Winkelmann has said time is of the essence and wants a deal before the end of September.
The carrier, which declined to comment, has been in talks with interested parties since it filed for insolvency on Aug. 15 after its major shareholder, Gulf carrier Etihad, denied it any further funding.
German aviation investor Hans Rudolf Woehrl is also working on a bid and former F1 driver Niki Lauda has indicated his interested in buying back Air Berlin`s Niki, the Austrian airline he once owned.
Air Berlin is being kept in the air thanks to a 150 million euro ($177 million) government loan.
Part of Air Berlin`s appeal to bidders lies in its access to take-off and landing slots at airports such as Duesseldorf, in Germany`s most populous region.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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