JetBlue Ignores Approach from American Airlines

Bankrupt American Airlines is attempting to reach a flight sharing deal with fellow airline JetBlue

, but its pleas are falling on deaf ears. According to the

, the lack of interest from JetBlue is putting pressure on American to go the merger route instead. American had been working hard towards a code-sharing deal that would see the two airlines team up on domestic flights out of New York's JFK Airport. However, a source sold the NY Post that, "JetBlue does not want to be a pawn" to help American. American Airlines filed for bankruptcy back in November 2011, and

, "while AMR's stock may become worthless - no one, at least not yet, is betting that American Airlines will disappear as a company. We were also assured by the company that all the frequent flyer mileages will continue to be honored. The main goal of the bankruptcy was to help the airline cut labor cost and to reduce its debt burden." Writer Daniel Ho also said, "In any case, the airline industry - an industry which teeters with bankruptcy all the time - faces similar issues that AMR faces, such as high fuel cost, uncertain economy keeping travelers at bay, and deteriorating conditions in Europe and China which might impact transpacific and transatlantic flights, etc. Until the fog clears, we believe it's better for investors to wait at the lounge rather than making any big moves." On Wednesday, JetBlue Airways traded at about $5.70, up roughly 1.6 percent.