Delta Airlines has made an offer worth $1billion to aid Japan Airlines. Not to be outdone, American Airlines has promised to top that offer in the next few days. Although Japan Airlines is debt-ridden, Delta and American Airlines both stand to gain much from an acquisition of the JAL due in part to JAL's strong place in the Japanese market and Asia as a whole, which has proven to be a tricky market to infiltrate in the past.
At this time it appears that American Airlines holds an edge over Delta as both American and JAL are members of the OneWorld alliance. Accepting an offer from Delta would mean that JAL would become part of SkyTeam.