The buyers of insolvent Air Berlin's assets will likely be picked by mid-September, people familiar with the matter told Reuters, as the race for the carrier's coveted take-off and landing slots in Germany heats up.
Suitors have until September 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 September 15.
Another source cautioned that the schedule was ambitious because new suitors keep lining up.
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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 August 15 after its major shareholder, Abu Dhabi's Etihad Airways, denied it any further funding.
Lufthansa, Thomas Cook's Condor, easyJet and Ryanair are among airlines interested in the carrier's business or parts of it, sources familiar with the negotiations have said.
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 (U$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.
Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
