Oneworld, TPG willing to invest $1.1 billion in JAL

12/3/2009 | Reuters

In an effort to keep Japan Airlines from switching from the Oneworld airline alliance to the Skyteam group, American Airlines and other members of Oneworld have teamed up with TPG, a private equity fund, to make an offer to invest $1.1 billion in the struggling Japanese carrier. Delta, which has previously said that the Skyteam alliance is ready to offer a little more than $1 billion in aid to JAL, said it may find a fund to partner with to sweeten the offer.

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