German aviation investor Hans Rudolf Woehrl late on Sunday said a company controlled by his INTRO Group had submitted a 500 million euro ($600.70 million) offer to buy insolvent Air Berlin, Reuters reported. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August, spurring interest from several buyers seeking to snap up about 140 leased aircraft and valuable take-off and landing slots in Germany.

Insolvent German airline Air Berlin may drop more long-haul routes next week to cut costs as it races to find investors before it runs out of cash, people familiar with the matter said on Friday. Air Berlin, Germany’s second-largest airline, was forced to file for bankruptcy protection last month after shareholder Etihad Airways withdrew funding following years of losses. Its planes are kept aloft thanks to a 150 million euro ($180.7 million) government bridge loan, which will last only until the middle of November at the latest, Reuters reported.

German shipping group Rickmers, which filed for insolvency in June, said on Thursday its ship management unit had the all-clear to continue business after it was bought by Bremen-based Zeaborn Group and owner Bertram Rickmers, Reuters reported. The company said in a statement that a consortium consisting of Zeaborn and Bertram Rickmers bought the division, which has its main sites in Hamburg, Singapore and Cyprus after they won a bidding process.

German aviation investor Hans Rudolf Woehrl expects to submit an offer for insolvent Air Berlin early next week, jointly with several partners, he told German television. “It will be a programme that goes into several hundred million (euros), to be paid in installments. But even the first installment that we’re willing to pay is very, very high,” he told TV station ARD on Wednesday. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August after shareholder Etihad Airways withdrew funding following years of losses, Reuters reported.

German family-owned logistics company Zeitfracht said on Tuesday it had expressed its interested in bidding for insolvent airline Air Berlin, citing opportunities for air freight business, Reuters reported. “Ideally, we would like to keep Air Berlin intact in its entirety,” the company said in a statement on Tuesday, adding it expected to be given access to Air Berlin’s books swiftly so it could submit a formal offer by the Sept. 15 deadline.

The field of bidders for Air Berlin’s assets appeared to narrow further on Thursday when aviation investor Hans Rudolf Woehrl stepped back from the process to search for a partner, Reuters reported. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August after shareholder Ethical Airways withdrew funding following years of losses. Now the carrier is to be carved up, most likely among several buyers, with about 140 leased aircraft and valuable take-off and landing slots in Germany up for grabs.

Ryanair will not bid for any assets of insolvent German airline Air Berlin, its Chief Executive Michael O’Leary said on Wednesday, describing the process as “a stitch-up”. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection this month after shareholder Etihad Airways withdrew funding following years of losses. O’Leary, the head of the Irish budget airline, has complained that the insolvency process was designed to help strengthen leading German airline Lufthansa, Reuters reported.

German airline Lufthansa aims to take on around a dozen of Air Berlin’s 17 long-haul aircraft and their transatlantic routes in a carve-up of the insolvent carrier, a person familiar with the matter told Reuters on Tuesday. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection this month after shareholder Etihad Airways withdrew funding following years of losses, Reuters reported.

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 Sept. 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 Sept. 15, Reuters reported.

Air Berlin’s frequent flyer programme filed for insolvency on Friday, bad news for members with points on their accounts, which they can no longer use. The frequent flyer programme Top Bonus had already stopped members from using and collecting points amid uncertainty about its future after Air Berlin itself filed for insolvency last week, Reuters reported. “Because of the situation with Air Berlin and the direct connection with the frequent flyer programme, Top Bonus had no other choice than to take this step,” Top Bonus said in a brief statement on Friday.