Delta Air Lines is eyeing a bid for bankrupt rival American Airlines, a source close to the matter said on Thursday, despite doubts that the proposed mega-carrier would win regulatory approval. Atlanta-based Delta, the world\'s second largest airline after recently merged United-Continental, has enlisted investment firm Blackstone to craft a potential bid, the source said. American Airlines declared bankruptcy in November, as it struggled to slash its debt burden and costs. Bankruptcy, a common tactic in the airline trade, was invoked to offer more legal room for maneuver to renegotiate or cancel service and wage contracts. But some observers were doubtful that any link between Delta and American would pass muster with US aviation watchdogs. \"We are skeptical on both the merits of any potential acquisition by Delta, which we do not think needs to get larger, or by the ability of such a deal to pass regulatory scrutiny,\" said Jim Corridore, an airline analyst with S&P Capital IQ. The Wall Street Journal reported that private-equity firm TPG Capital was also considering a bid for American.
GMT 00:49 2018 Wednesday ,24 January
Positive aviation sentiments fuel MRO industry's growthGMT 00:21 2018 Wednesday ,24 January
UAE airports face less stress from new US cargo regulationsGMT 20:06 2018 Tuesday ,23 January
Pakistan offers visa on arrival to tourists from 24 countriesGMT 22:40 2018 Monday ,22 January
RAK Police air wing carry out 135 rescue operationsGMT 21:59 2018 Monday ,22 January
Honduras roads blocked in protestsGMT 19:22 2018 Monday ,22 January
Accidents, traffic jams clog Dubai roadsGMT 17:34 2018 Monday ,22 January
Man charged for assaulting police officer at Dubai airportGMT 17:03 2018 Monday ,22 January
Gulf Air launches Bahrain tourist visa serviceMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor