Updated from 1:33 a.m. EDT

TOKYO (

TheStreet

) --

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AMR's

(AMR)

American Airlines plans to team up with other members of the Oneworld alliance to recapitalize money-losing

Japan Airlines

and fend off a rival offer from

Delta Air Lines

(DAL) - Get Report

, a report says.

The proposal, which would include a capital injection from American Airlines, is aimed at thwarting Delta, which also is in talks to invest in Oneworld partner JAL,

Reuters

reports. The

Nikkei

business daily, without citing its sources, said the possible investment from American could amount to several hundred million dollars.

A JAL spokesman declined to comment.

Executives from American Airlines,

British Airways

and

Qantas

met with executives at JAL this week and told them of their plans to put together a joint offer,

Reuters

reports, citing two people with direct knowledge of the talks.

Delta is a member of the rival SkyTeam alliance. Removing JAL from Oneworld would leave that partnership without a Japanese carrier,

Reuters

notes.

TheStreet.com

reported earlier this week that the partners in the Oneworld alliance were considering

investing in JAL

.

Financially troubled JAL is seeking to restructure and to raise funding from banks, investment funds and others including airlines. It wants about $300 million to $500 million from an airline partner or partners, as a share of the $2.7 billion it reportedly needs,

TheStreet.com

reported.

-- Reported by Joseph Woelfel in New York

.

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Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.