It looks like only time will tell on this subject, but the Wall Street Journal reported on Thursday, 12jan12, that Delta Air Lines, Inc. might bid to take over the parent company of American Airlines, AMR Corp. Another firm, TPG Capital, a private equity in Fort Worth, TX is also looking into a bid to take over AMR Corp.
Delta has hired an outside firm, Blackstone Group, as its financial adviser to asses a potential bid for AMR Corp. Blackstone also helped Delta restructure through bankruptcy back in 2005. AMR is laden with both high labor costs and heavy debt and any bid for the company is still months away. AMR was also delisted from the New York Stock Exchange after AMR’s stocks fell below $1.00 a share. Presently, AMR’s shares are about $.30 each.
Sources told WSJ that TPG Capital would prefer to work with a strategic partner in any possible investment into American Airlines investment and has approached AMR about the interest.