Bidders are thought to be lining up to submit final offers for Condor, the German airline that used to be owned by Thomas Cook.
Apollo (APO.N), Greybull and Polish carrier LOT are expected to put forward bids this week.
The bidders could partner with some of Germany’s tour operators to buy the airline Condor, according to Reuters news agency.
Last week Condor made a deal with cabin crew on plans to cut 150 of its 2,400 jobs.
“This is an important step towards securing Condor’s future,” the airline said in a statement.
The German airline arm of Thomas Cook secured a €380 million state-funded lifeline to keep flying in September.
Unlike the UK, the German government stepped in to bail out Condor, salvaging the profitable subsidiary carrier from the liquidation of its parent company and preserving almost 5,000 jobs.
The six-month emergency bridging loan to cover the carrier over the winter low season was provided by the KFW state development bank and backed by the government in Germany.