=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2003/02/07/f= inancial1223EST0120.DTL ---------------------------------------------------------------------- Friday, February 7, 2003 (AP) Air Lib says it's in talks with potential investors (02-07) 09:23 PST PARIS (AP) -- Grounded carrier Air Lib, whose talks recently broke down with one potential suitor, said Friday it is in talks with other potential investors, offering a slim ray of hope for France's second-largest airline. "For two days now we've had other potential investors making themselves known," said the airline's president, Jean-Charles Corbet. He refused to name them, saying they wanted to remain anonymous. "Because of the tense period we're in, these discussions should remain confidential," Corbet said after meeting the government's transport secretary, Dominique Bussereau. Air Lib was forced to ground its fleet Thursday after losing its license when rescue negotiations fell through with the IMCA Group, a Dutch shipping and property firm that is a partner of Dutch carrier KLM Royal. Corbet said he met with Bussereau "to see whether everything has been do= ne to save the company and whether the negotiations with IMCA are really totally finished." Air Lib's operating license, already extended to give last-ditch rescue talks a chance, expired Wednesday at midnight. Other airlines have offered to help fly back Air Lib passengers stranded overseas. Air Lib flew to the French Antilles, Algeria, Cuba, and a number of European and French destinations. IMCA had said it would be prepared to take over the ailing carrier if the European consortium Airbus would sell it 29 A319 planes at a bargain price to renew Air Lib's fleet. Founded in 2001 from the ashes of Swissair's insolvent French operations, Air Lib struggled to stay afloat after the government made clear it would no longer subsidize the debt-laden company. The government insisted that Air Lib agree to repay government loans of 100 million euros to 130 million euros ($108 million to $140 million) and show more detail about its potential financial backers before renewing its license. =20 ---------------------------------------------------------------------- Copyright 2003 AP