American For Sale?
New York City, NY – Delta shares up on report of interest in AMR
FORT WORTH, Texas (AP) Shares of Delta Air Lines rose after a report that it's interested in bidding for American Airlines parent AMR Corp.
The Wall Street Journal said Thursday that Delta and buyout firm TPG were separately looking at AMR, which is in the early stages of reorganizing through the bankruptcy process.
A spokesman for AMR declined to comment.
Three big mergers since 2008 have helped the airline industry by reducing competition and making it easier to raise prices. In one of those deals, Delta bought Northwest.
Delta shares were up 10 cents at $8.71 in afternoon trading after earlier hitting $8.92. Delta shares have traded between $6.41 and $12.81 in the past 52 weeks.
Copyright 2012 The Associated Press.