NEW YORK (

TheStreet

) --

Delta Airlines

(DAL) - Get Report

is

reportedly looking to gobble up some of its competition

.

According to

The Wall Street Journal

, the company is doing its homework on possibly making a bid to acquire

US Airways

(LCC)

, according to unnamed "people familiar with the matter."

The

Journal

article said

AMR Corp.

, the parent company of American Airlines that filed for bankruptcy protection in late November, could also end up a target of Delta, which is said to be working with

Goldman Sachs

(GS) - Get Report

and

Blackstone Group

(BX) - Get Report

as advisers.

Delta has yet to approach US Airways, the article said, as it's still mulling which deal makes the most sense for it from a strategic standpoint and which is more attractive from a regulatory standpoint.

Shares of Delta closed at $10.39, up 2.2%, while US Airways' stock finished at $8.18, enjoying a gain of 4.2% on the day. AMR, which now trades on the Pink Sheets, last transacted at 69 cents. US Airways' shares are down 23% in the past year, while Delta's stock is off 14%.

--

Written by Michael Baron in New York.

>To contact the writer of this article, click here:

Michael Baron

.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.