Nevertheless, some experts believe that American retains an appetite for transactions. In a report, Credit Suisse analyst Daniel McKenzie says the carrier could team up with Oneworld partner British Airways to bid for Northwest.
"Given the amount at stake for both American and British Airways, we don't rule out British Airways aid to American for a counter-offer on Northwest," McKenzie wrote in a research report. "Delta and Northwest appear to be going out of their way to sew up an air-tight deal that limits execution risk, [but] a potential British Airways/American counteroffer could still force Delta to overpay."
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"Given the amount at stake for both American and British Airways, we don't rule out British Airways aid to American for a counter-offer on Northwest," McKenzie wrote in a research report. "Delta and Northwest appear to be going out of their way to sew up an air-tight deal that limits execution risk, [but] a potential British Airways/American counteroffer could still force Delta to overpay."
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