The fate of Air Méditerranée (ML, Lourdes/Tarbes), in receivership since January 2015, will be decided on January 18 amid reports that a second proposal to assume control of the airline has now been submitted to a French Commercial Court in Tarbes.

According to Tourmag, two former AOM French Airlines (IW, Paris Orly) directors said in their submission that they would inject EUR5 million (USD5.48 million) each into the carrier to help shore up its financial base. The proposal, which covers only the airline's assets and excludes its debts, will see Air Méditerranée retain all 220 staff although its base of operations will be transferred to Toulouse Blagnac. Though included in the takeover bid, the carrier's Greek subsidiary, Hermes Airlines (H3, Athens Int'l), will be quickly divested as Greek accounting practices did not bode well with one of the investors. As such, should their proposal go through, the new emerging firm will be named 'Exclusive', the partners said.

As previously reported, Ali Haddad, an Algerian national who heads an Algerian construction conglomerate - ETRHB Haddad - has also submitted a proposal. However, owing to European investment laws, he is only eligible to control 49% of the carrier.

On assessment, should neither of the bids be accepted, Air Méditerranée could be forced into liquidation.