Sterling administrators still in talks with prospective buyers

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Administrators for bankrupt Danish carrier Sterling Airlines are still optimistic about prospects for selling the company, a week after a deadline closed for expressions of interest.

The Copenhagen-based airline, which operated a fleet of Boeing 737s, filed for bankruptcy at the end of October.

Law firm Gorrissen Federspiel Kierkegaard's Soren Fogh says the administrators have received "several interesting inquiries" and the company had been in "concrete negotiations with several interested buyers" since the 3 November deadline.

But he adds that an overall sale of the business is a "complex transaction" which "calls for great flexibility" among the various stakeholders for it to succeed.

"Therefore the talks are not yet finished," he says. The administrators had been hoping to announce a new owner for Sterling within a week but Fogh says the firm cannot give an estimate of probable timeframes.

Sterling co-administrator Kromann Reumert says: "It's no secret that the [administrators] are working under a not-insignificant time pressure to be able to obtain a successful sale.

"There is still reason to believe that we can achieve the goal of a comprehensive solution that involves preservation of a significant number of jobs."