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Wednesday, October 28, 2009
American Eyes a Stake In Japan Airlines -report
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- American Airlines has hired banking group Rothchild to help it take a small stake in Japan Airlines Corp. and forge a closer alliance, Dow Jones Newswires reported Wednesday. The move follows similar overtures by rival Delta Air Lines , which is also eyeing access to the fast-growing Asia market. But JAL is has a heavy debt load, and the Japanese government is pushing for a restructuring plan by this weekend, the newswire service reported. American's parent company AMR Corp. has said in the past it wants to form a closer relationship with the Tokyo-based carrier, and both airlines already share membership in the oneworld alliance.
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