Delta vs. American Airlines: JAL Bidding War

As Delta Air Line's increasingly focuses on international expansion for company growth, the company has indicated that it's imperative that they form a joint venture or at least find a partner with an Asian airline.

Enter: $1 billion attempt to get Japan Airlines, headquartered in Tokyo, Japan, to 'unfriend' American Airlines. JAL is in desperate need of cash, as it recently announced its fourth quarterly loss. Two weeks later, American Airlines publicly states that it can offer JAL a package of $1.1 billion to remain partners in the oneworld alliance.

According to an article on December 3, 2009 in the Wall Street Journal:

"Despite its mounting problems, JAL remains an attractive bet for both Delta and American, keen to bolster operations in Asia and maximize access to potentially lucrative regional routes. Last month Delta and its partners in the Skyteam alliance, a rival to oneworld, said they could offer a $1.02 billion funding package to JAL."

Is this becoming an English auction, as both airlines openly bid on the JAL partnership? More importantly, will Delta follow-up with a bigger bid to what was already a suprisingly large amount?