No luck for TPG/AA JAL offer?
Japan Airlines Corp. (JAL) and Japan’s Enterprise Turnaround Initiative Corporation (ETIC) reportedly decided to pick Delta Air Lines Inc. as the capital alliance partner for the struggling airline, rejecting a $1.1 billion support proposal from American Airlines and US buyout firm TPG Capital.
However, an AA spokesperson denied the reports, claiming that JAL and the consortium are still in discussions. JAL’s key financial backer, the Development Bank of Japan Inc., earlier decided to boost...
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