(MENAFN) Lufthansa (LHAG.DE) is offering to pay 200 million Euros ($239 million) to buy its bankrupt smaller opponent Air Berlin (AB1.DE).
Moreover, it is willing to pay up to 100 million Euros to meet operating costs to keep the airline going in the short-term.
Citing sources close to newspaper Bild am Sonntag (BamS) said that there could be three months between signing a purchasing contract and implementing the deal because the German and European competition authorities would first need to vet any contract.
On the matter of finding a solution to this bankruptcy, last month the Berlin government quickly granted Air Berlin a 150 million-euro bridging loan to keep the airline flying for three months.
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