TPG Said to Study AMR Investment as US Airways Hires Advisers

David Bonderman’s TPG Capital is studying whether to invest in American Airlines parent AMR Corp (AAMRQ). in bankruptcy, and US Airways Group Inc. (LCC) has hired advisers to assess a possible bid, people familiar with the matter said.

TPG’s review remains in the early stages, and no decisions have been reached about whether to take an AMR stake or buy the company outright, said one of the people, who asked not to be identified because the talks are private. US Airways also hasn’t made any decisions, said another person.

Delta Air Lines Inc. (DAL) also is studying a possible bid, the Wall Street Journal reported, citing people it didn’t identify. Spokesmen for Fort Worth, Texas-based American, US Airways and Delta all declined to comment.

AMR, whose American is the third-largest U.S. airline, filed for bankruptcy protection on Nov. 29, weighed down by annual losses that began in 2008 and were projected by analysts to persist at least through this year.

Delta is the world’s second-largest carrier by traffic, after vaulting past American by buying Northwest Airlines Corp. in 2008, while Tempe, Arizona-based US Airways is No. 5 in the U.S.

Delta, based in Atlanta, gained 3 percent to $8.87 at 4:15 p.m. in New York trading. US Airways rose 2.4 percent to $6.05.

To contact the reporter on this story: Mary Schlangenstein in Dallas at maryc.s@bloomberg.net

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net

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