Greece’s Aegean Airlines and Spain’s Air Nostrum have submitted non-binding bids to acquire Croatia Airlines. 

The two airline players have submitted their respective offers to the airline’s privatization advisors, PBZ and DVB, without providing further information.

The Government of Croatia has set a deadline to either fully privatize or recapitalize the Croatia Airlines by June 2020. With the offers submitted, the advisors are now set to analyze the offers and pass them on to the company’s management. An inter-agency committee, set up by the state, will then select the best offer if it meets their set requirements.