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December 4, 2009

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American Airlines has US$1.1b plan for JAL

AMERICAN Airlines has upped the ante in the tug-of-war over Japan Airlines, vowing to lead a US$1.1 billion investment in the struggling carrier.

American's Chief Financial Officer, Tom Horton, said yesterday the offer was "far superior" to a US$1 billion bid from Delta Air Lines and its SkyTeam partners.

He said the proposal by American, its Oneworld partners and private equity firm TPG Inc was part of a larger restructuring plan. If JAL enhances its links with American, Horton said, over a 10-year period it would gain additional revenue of some US$700 million.

JAL has said there will be a decision on the offers by the end of the year.


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