Air Méditerranée (Lourdes/Tarbes) has begun talks with several potential investors capable of both sustaining the carrier's operations and its workforce. Though the carrier has successfully transitioned from a charter carrier into a scheduled operator, management says Air Méditerranée's financial recovery has yet to catch up leading to a filing for bankruptcy protection with the commercial court of Tarbes.

"Indeed, the difficult market environment and the French airline industry as a whole, have not allowed the company to consolidate its financial position quickly enough, despite posting good results in recent years," it said in a press communique.

The court-sanctioned move has also been approved by the airline's largest clients - tour operators - all of which have given their consent to the possible partnership.

"Tour operators, major customers of the company, have approved this decision and renewed their confidence in the company confirming all their commitments," it said.

In conjunction with its Hermes Airlines (Athens) subsidiary, Air Méditerranée operates three A321-100s, two A321-200s, and three B737-500s, specializes in scheduled flights throughout Western Europe, the Mediterranean, North and West Africa as well as ACMI operations for other airlines.