Despite an increased offer from a Carl Icahn-financed group for Trans World Airlines Inc. (OTC BB:TWAIQ.OB - news), American Airlines has not made a decision to increase its offer for the bankrupt carrier.

``I think we'll just keep our options open and observe the process today,'' said American spokesman Al Becker. He did not rule out an increase, but said AMR Corp.'s (NYSE:AMR - news) American plans to see how the process unfolds in court.

In a hearing in Wilmington, Del., on Friday, Bankruptcy Judge Peter Walsh will wade through scores of objections to the deal between American and TWA, from parties such as creditors, labor groups, and rival bidders.
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