Overnight talks salvage attempt to sell off bankrupt airline

Sterling AirlinesCopenhagen - Overnight talks appear to have salvaged an attempt to sell off bankrupt low-cost carrier Sterling Airlines, liquidators and unions said Wednesday.

The news came after liquidators on Tuesday afternoon said they had ditched an attempt to sell the Danish-based Sterling Airlines as a single entity over union opposition.

However, talks resumed later and have breathed new life into the efforts to save 430 jobs, a third of Sterling's staff of some 1,100 employees.

The Danish Federation of Salaried Employees in Service Trades said it accepted the new terms for pilots and cabin crew after opposing an earlier proposal.

The 430 employees affected were likely to get information about the new terms Wednesday and must accept them in order for the sale process to continue, liquidators said.

The identity of the potential buyer has not been disclosed.

Sterling Airlines filed for bankruptcy on October 29, saying it had been impacted by the global recession and "significant fuel cost increases." (dpa)

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