Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Sukhoi, Mil Battle BasEl for Fairchild

FRANKFURT, Germany -- A Swiss-based firm working with two Russian aviation companies has made an offer for bankrupt jet maker Fairchild Dornier, the court administrator overseeing the company said Monday.

The new offer from Aviation Finance Consulting goes up against an earlier joint bid from aluminum magnate Oleg Deripaska's Base Element, or BasEl, and IAPO, an Irkutsk-based manufacturer of combat jets.

Aviation Finance Consulting says it has $300 million in bank financing available for the deal, administrator Eberhard Braun said in a written statement.

The Swiss company is working with Russian aviation companies Sukhoi, maker of combat jets, and Moscow helicopter plant Mil, Braun said.

A creditor's committee is to take up the bids at a meeting Tuesday.

Fairchild Dornier makes the 32-seat 328 jet and is developing the 70-seat 728, but also has a maintenance business and supplies parts to Airbus.

Fairchild Dornier filed for bankruptcy court protection from creditors in April. About 2,100 of 3,200 workers remain on the job, and Braun has said that some of those laid off could be called back if an investor takes over the company's project to build the 728 jet.

The plane exists only in prototype, and the company has said it would take $1 billion to bring it to market.

Braun said Aviation Finance Consulting offer did not make clear who was behind the firm and that until that question is clarified, the bidder could not get access to the company's books.