Are Delta & TPG Preparing Bids For American Airlines?
FORT WORTH (CBSDFW.COM) – According to the Wall Street Journal, two companies are possibly preparing to bid for ownership of AMR – the parent company of American Airlines.
Reportedly both Delta Air Lines and Texas Pacific Group (TPG) Capital, of Fort Worth, have their sights set on the troubled Fort Worth-based airline.
AMR filed for bankruptcy protection in November 2011 and is currently restructuring.
American was one of the only major U.S. airlines that didn’t file for bankruptcy protection after the 2001 terrorist attacks. Ironically, Detla Air Lines was the last major airline to file for bankruptcy protection, in 2005.
Experts say if Delta makes a bid, there would be a host of anti-trust since the air carrier became the world’s largest in 2008, after merging with Northwest Airlines.
Shares of Delta rose after reports of the possible AMR bid.
Also Check Out: