TPG Might Invest in JAL

TPG, a US private equity firm, is prepared to invest as much as 100 billion yen ($1.1 billion) in Japan Airlines Corp., as part of a coordinated effort with American Airlines Inc. to support the struggling carrier, according to Nikkei. Assuming that the Japanese government approves, TPG will work with American Airlines to assist in JAL's turnaround. Both AA and JAL belong to the oneworld global alliance, which involves code-sharing and cross-honoring of frequent flier miles.