Abu Dhabi – Mubasher: Germany-based Lufthansa has submitted an offer to buy Air Berlin, 30% of which is owned by the UAE’s Etihad Airways, Bild am Sonntag newspaper reported Sunday.

Lufthansa offered €200 million ($239 million) and expressed its willingness to pay €100 million to cover the operating costs of the bankrupt company to maintain its activities temporarily, the German newspaper added, citing informed sources.

The period between signing the contract and implementing the deal could be three months after the German and European organisational authorities review and scrutinise the deal.

Following the submission of its bankruptcy last month, Air Berlin received a €150 million loan from the German government to be able to keep the company running for another three months.

Etihad said that it cannot save the ailing Air Berlin, noting that German aviation company’s performance has been deteriorating rapidly, according to a company statement.

Last week, the creditors’ committee for Air Berlin stated that they will negotiate with Lufthansa and EasyJet the possibility of buying the bankrupt airline.

Negotiations may take up to three weeks, the committee said.