American Airlines has said that it may purchase equity in Japan Airlines in order to prop up the ally following forecasts of its fourth loss in five years.

American, the world’s second largest carrier, also plans to expand code-sharing with Japan Airlines, its Oneworld alliance partner, according to sources.

The airline has received three government bailouts since 2001 with the most recent in June.   The company has also been in talks on possible stake sales to Delta and Air France-KLM.   It is reported that the carrier is planning to seek 250 billion yet ($2.8 billion) to rebuild its operations.

An analyst at Shinsei Securities believes that the government doesn’t care about who gives the airline money, but Japan Air Lines would rather receive the money from a non-competing airline.

American spokesman Charley Wilson declined to comment on reports of an investment in Japan Airlines.

Code-sharing with the Japanese airline would allow American or Delta more cities within Japan and the ability to sell Japan Air flights direct to customers.  Alliances such as SkyTeam and Oneworld let airlines expand their networks by pulling in more passengers and sharing the revenue.

Japan Airlines recorded a 99 billion yet loss in the first quarter of this year, the most in the last 6 years as the business and leisure travel industry has suffered the most since World War II.