Updated from 1:33 a.m. EDTTOKYO ( TheStreet) -- AMR's ( AMR - Get Report) 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 ( BAY 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 . Follow TheStreet.com on Twitter and become a fan on Facebook.
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