WSJ: Delta, Private Equity Group Study Bids For American Airline's AMR Parent

The Wall Street Journal is reporting Delta Air Lines and private equity firm TPG Capital are separately assessing possible bids for American Airlines' parent company, AMR Corporation.

AMR filed for bankruptcy in November 2011.

According to the Wall Street Journal story, TPG Capital prefers to work with a strategic partner for a possible American Airlines investment.

Delta has hired Blackstone Group as its financial adviser to assess a potential AMR bid.  Delta merged with Northwest Airlines in 2008 making Delta the largest carrier.  

American Airlines is the nation's 3rd largest carrier.

TPG has a history of airline investments, including Continental Airlines in 1993 and America West in 2005.  According to The Wall Street Journal, in 2009 TPG teamed up with AMR to invest in Japan Airlines, in a deal that was never completed.

A merger with Delta would probably attract antitrust attention from the U.S. government.

1/2/2012 Related Story: American Airlines' AMR Shares To Be Dropped From NYSE Trading

American Airlines is Tulsa's largest private employer, with more than 5,600 people on the payroll.