TOKYO, Jan 19 (Reuters) – Brazil’s Embraer <EMBR3.SA> and
Mitsubishi Heavy <7011.T> could see an uptick in business from
Japan Airlines Corp <9205.T> as the bankrupt carrier rejigs its
fleet towards smaller and more fuel-efficient aircraft.
JAL, which filed for bankruptcy protection on Tuesday as
part of a state-led restructuring [ID:nSGE60I079], plans to
retire all of its 37 Boeing <BA.N> 747-400 jumbo jets and all 16
McDonnell Douglas MD-90 planes and buy smaller aircraft to take
TOKYO, Jan 19 (Reuters) – While Japan Airlines <9205.T>
heads toward bankruptcy, American Airlines <AMR.N> and Delta Air
Lines <DAL.N> are both courting the carrier with offers of
financial aid, aiming to gain routes in fast-growing Asian
markets and a stronger foothold in Japan.
All Nippon Airways Co <9202.T>, Japan’s second biggest
airline, competes with JAL on 30 of its 40 international routes,
and may also be interested in taking some of JAL’s overseas
TOKYO, Jan 15 (Reuters) – Japan Airlines <9205.T> moved a
step closer to bankruptcy on Friday by drawing down $1.6 billion
in emergency funding and with the government setting Tuesday as
the day to officially start a state-led restructuring.
JAL, Asia’s largest airline by revenues but with a market
value now lower than that of budget carrier Skymark Airlines
<9204.T>, will file for bankruptcy protection as early as
Tuesday, sources have told Reuters, as part of a restructuring
being crafted by a state-backed turnaround fund. [ID:nTOE60D089]
TOKYO, Jan 15 (Reuters) – Shares of All Nippon Airways Co
<9202.T> are near 6-month highs as investors bet that Japan’s
No.2 airline will gain from the expected bankruptcy and
restructuring of bigger rival Japan Airlines Corp <9205.T>.
Debt-heavy JAL faces a drastic shake-up likely to include
the cutting of about 15,000 jobs and two dozen unprofitable
routes, a source has told Reuters. [ID:nTOE60A04W]
TOKYO, Jan 13 (Reuters) – Kazuo Inamori, the founder of
electronics maker Kyocera Corp <6971.T>, agreed on Wednesday to
become the new chief executive of Japan Airlines <9205.T>, as
the carrier’s shares plunged ahead of its expected bankruptcy.
JAL is likely to file for bankruptcy as early as next week
as part of a broader restructuring aimed at reducing debts,
slashing about 13,000 jobs and cutting up two dozen
unprofitable routes, sources have told Reuters. [ID:nTOE60A04W]
TOKYO (Reuters) – American Airlines <AMR.N> and its partners in the Oneworld alliance sweetened their offer to Japan Airlines <9205.T> to $1.4 billion to keep the struggling national carrier from joining hands with rival Delta Air Lines <DAL.N>.
The announcement came as JAL shares plunged 45 percent to a record low, wiping out nearly $900 million in market value, on growing expectations the airline is headed for bankruptcy and a delisting from the Tokyo exchange.
TOKYO, Jan 12 (Reuters) – American Airlines <AMR.N> and its
partners in the Oneworld alliance sweetened their offer to
Japan Airlines <9205.T> to $1.4 billion to keep the struggling
national carrier from joining hands with rival Delta Air Lines
The announcement came as JAL shares plunged 45 percent to a
record low, wiping out nearly $900 million in market value, on
growing expectations the airline is headed for bankruptcy and a
delisting from the Tokyo exchange. [ID:nTOE60A04W]
TOKYO (Reuters) – Japan’s new finance minister, Naoto Kan, said he expected a state-backed fund to support Japan Airlines <9205.T>, fuelling growing expectations that Asia’s largest carrier by revenue will be bailed out with public money.
The airline, weighed down by $16 billion of debt and mired in losses, has applied for financial aid from a turnaround fund established to recapitalize ailing companies with state-guaranteed funding and help them restructure.
TOKYO (Reuters) – American Airlines said it and other members of the Oneworld airline alliance along with private equity fund TPG are willing to invest $1.1 billion in Japan Airlines to prevent it defecting to Delta Air Lines and the rival Skyteam group.
Debt-laden JAL faces the risk of bankruptcy unless it undergoes a major restructuring to cut costs and is seeking a capital injection from a state-backed fund on top of any money from American Airlines or Delta.
TOKYO, Nov 13 (Reuters) – Japan Airlines <9205.T>, which is
seeking a state bailout, sank into the red last quarter amid
sluggish travel demand, and applied on Friday for mediated debt
restructuring in a bid to muddle through financial turbulence.
Saddled with $15 billion in debt, a massive pension deficit
and dozens of unprofitable routes, JAL is seeking its fourth
state bailout since 2001.