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Japan Airlines 'may stop international flights'
Thu Dec 31, 4:46 am ET
TOKYO (AFP) – Japan Airlines (JAL) may stop flying international routes under a plan being discussed by the government to try to keep the debt-ridden company in the air, a report said Thursday.
The plan calls for rival All Nippon Airways (ANA) to take over JAL's international flights as part of what would be a drastic downsizing scheme for Asia's biggest airline, the Mainichi Shimbun newspaper said.
The scheme was apparently on the table when key cabinet officials, including Transport Minister Seiji Maehara, met on Wednesday to discuss JAL's rehabilitation programme.
The transport ministry has strongly opposed the plan to turn JAL into a domestic carrier despite growing calls for a drastic restructuring of its international operations where losses weigh heavily, the newspaper said.
"(JAL) will be a good company if it abandons international routes and concentrates on domestic flights," an unnamed JAL executive was quoted by Mainichi as saying.
Immediate confirmation of the report was not available.
In a related move, Maehara held talks with vice Prime Minister Naoto Kan and other officials Thursday and agreed that the state-run Development Bank of Japan will offer further loans to JAL.
The DBJ has already disbursed just over half of a 100 billion yen (1.08 billion dollar) credit line extended in November. "On top of the remaining 45 billion yen, (DBJ) is to expand the limit," Maehara told reporters.
Cabinet officials said they would discuss details of further loans to JAL on Sunday before making an official announcement, while local media reported that DBJ is likely to double its credit line to 200 billion yen in total.
JAL, battered by the global recession and swine flu pandemic, is scrambling to slash costs and is seeking its fourth government bailout since 2001 to keep flying in the face of mounting losses.
Shares plunged to a record low on Wednesday as media reports that bankruptcy is one option for the cash-strapped carrier spooked investors.
The Tokyo stock market was closed for a holiday on Thursday.
Local media have reported that the state-backed Enterprise Turnaround Initiative Corp., which is overseeing JAL's restructuring, is considering the possibility of the carrier filing for protection from creditors.
It has also been offered financial assistance by both American Airlines and Delta Air Lines, who are competing to take a minority stake in the Japanese carrier, eyeing its coveted Asian landing slots.
JAL, which lost about 1.5 billion dollars in the six months to September, has said it plans thousands of job cuts and a drastic reduction in routes as part of its efforts to return to profitability.
The global economic downturn has dealt a heavy blow to JAL's efforts to recover from a long period of financial turbulence stretching back to its privatisation more than two decades ago.
Thu Dec 31, 4:46 am ET
TOKYO (AFP) – Japan Airlines (JAL) may stop flying international routes under a plan being discussed by the government to try to keep the debt-ridden company in the air, a report said Thursday.
The plan calls for rival All Nippon Airways (ANA) to take over JAL's international flights as part of what would be a drastic downsizing scheme for Asia's biggest airline, the Mainichi Shimbun newspaper said.
The scheme was apparently on the table when key cabinet officials, including Transport Minister Seiji Maehara, met on Wednesday to discuss JAL's rehabilitation programme.
The transport ministry has strongly opposed the plan to turn JAL into a domestic carrier despite growing calls for a drastic restructuring of its international operations where losses weigh heavily, the newspaper said.
"(JAL) will be a good company if it abandons international routes and concentrates on domestic flights," an unnamed JAL executive was quoted by Mainichi as saying.
Immediate confirmation of the report was not available.
In a related move, Maehara held talks with vice Prime Minister Naoto Kan and other officials Thursday and agreed that the state-run Development Bank of Japan will offer further loans to JAL.
The DBJ has already disbursed just over half of a 100 billion yen (1.08 billion dollar) credit line extended in November. "On top of the remaining 45 billion yen, (DBJ) is to expand the limit," Maehara told reporters.
Cabinet officials said they would discuss details of further loans to JAL on Sunday before making an official announcement, while local media reported that DBJ is likely to double its credit line to 200 billion yen in total.
JAL, battered by the global recession and swine flu pandemic, is scrambling to slash costs and is seeking its fourth government bailout since 2001 to keep flying in the face of mounting losses.
Shares plunged to a record low on Wednesday as media reports that bankruptcy is one option for the cash-strapped carrier spooked investors.
The Tokyo stock market was closed for a holiday on Thursday.
Local media have reported that the state-backed Enterprise Turnaround Initiative Corp., which is overseeing JAL's restructuring, is considering the possibility of the carrier filing for protection from creditors.
It has also been offered financial assistance by both American Airlines and Delta Air Lines, who are competing to take a minority stake in the Japanese carrier, eyeing its coveted Asian landing slots.
JAL, which lost about 1.5 billion dollars in the six months to September, has said it plans thousands of job cuts and a drastic reduction in routes as part of its efforts to return to profitability.
The global economic downturn has dealt a heavy blow to JAL's efforts to recover from a long period of financial turbulence stretching back to its privatisation more than two decades ago.
Japan Mulls Merging JAL's Int'l Service Into ANA's: Report
December 30, 2009
TOKYO (Reuters) - Several cabinet members of the Japanese government want Japan Airlines Corp <9205.T> to withdraw completely from its international flights business and consolidate it with that of All Nippon Airways Co <9202.T>, the Mainichi Shimbun newspaper reported on Thursday.
The cabinet members met on Wednesday and appeared to have floated the idea in order to improve JAL's financial condition, Mainichi reported, without citing any sources.
But Transport Minister Seiji Maehara was opposed to the plan of having only one international flight service airline from Japan, the newspaper said.
Mainichi said the discussions of the cabinet members were based on the assumption that JAL will be restructured under a court-led process.
The idea was raised as JAL's international flights business has been a huge burden for its overall operation, with a government-backed turnaround fund requiring JAL to revitalize within three years.
JAL has announced it will terminate flights on 30 routes, including 13 international, by June.
On Wednesday, JAL shares tumbled as much as 32 percent to a record low on growing expectations the struggling carrier was headed for bankruptcy under a state restructuring plan.
Tokyo financial markets are closed for a public holiday on Thursday.
The chances of bankruptcy appeared to increase last week when Finance Minister Hirohisa Fujii said the government would not back any more loans to JAL. Private banks are unlikely to extend loans without guarantees against future losses.
(Reporting by Chikafumi Hodo; Editing by Muralikumar Anantharaman)
Copyright 2009 Reuters News Service. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
December 30, 2009
TOKYO (Reuters) - Several cabinet members of the Japanese government want Japan Airlines Corp <9205.T> to withdraw completely from its international flights business and consolidate it with that of All Nippon Airways Co <9202.T>, the Mainichi Shimbun newspaper reported on Thursday.
The cabinet members met on Wednesday and appeared to have floated the idea in order to improve JAL's financial condition, Mainichi reported, without citing any sources.
But Transport Minister Seiji Maehara was opposed to the plan of having only one international flight service airline from Japan, the newspaper said.
Mainichi said the discussions of the cabinet members were based on the assumption that JAL will be restructured under a court-led process.
The idea was raised as JAL's international flights business has been a huge burden for its overall operation, with a government-backed turnaround fund requiring JAL to revitalize within three years.
JAL has announced it will terminate flights on 30 routes, including 13 international, by June.
On Wednesday, JAL shares tumbled as much as 32 percent to a record low on growing expectations the struggling carrier was headed for bankruptcy under a state restructuring plan.
Tokyo financial markets are closed for a public holiday on Thursday.
The chances of bankruptcy appeared to increase last week when Finance Minister Hirohisa Fujii said the government would not back any more loans to JAL. Private banks are unlikely to extend loans without guarantees against future losses.
(Reporting by Chikafumi Hodo; Editing by Muralikumar Anantharaman)
Copyright 2009 Reuters News Service. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
I problemi della compagnia giapponese sono dovuti alle spese eccessive,inrelazione ai km percorsi,oppure ad un calo dei passeggeri moltom aggiore di quanto accaduto alle rivali?
nel secondo caso si ptrebbe auspicare ,con la ripresa economica, un possibile ritorno all'utile di jal ,magari accompagnato da qualche razionalizzazione. Bisogna però vedere se ilgruppopotrà reggere fino ad allora
nel secondo caso si ptrebbe auspicare ,con la ripresa economica, un possibile ritorno all'utile di jal ,magari accompagnato da qualche razionalizzazione. Bisogna però vedere se ilgruppopotrà reggere fino ad allora
JAL against bankruptcy, favours Delta offer - report
Sun Jan 3, 2010 2:41pm
TOKYO (Reuters) - The president of Japan Airlines Corp said he is against a bankruptcy proceeding under a state restructuring plan and has no plans to completely withdraw the carrier from overseas flights, the Asahi Shimbun reported.
In an interview conducted on Friday and published on Sunday, the Asahi also said JAL President Haruka Nishimatsu preferred Delta Air Lines as the carrier's overseas partner to American Airlines.
JAL, hit by a global downturn in travel and a bloated cost base, has been seeking a bailout from the state-backed Enterprise Turnaround Initiative Corp of Japan (ETIC), which is expected to make a decision on whether to support the airline this month.
On Sunday, the government said the state-owned Development Bank of Japan would double its credit line for JAL to 200 billion yen ($2.15 billion), Kyodo news agency reported, as the airline struggles for survival.
The ETIC, a state-backed fund established to inject capital into and buy the debt of struggling but viable firms, has told JAL's main creditors it favours a bankruptcy proceeding as part of its rescue package, sources have told Reuters.
But Nishimatsu is against the plan, suggesting tough negotiations ahead between the airline and the ETIC, the Asahi reported.
"The image (of bankruptcy) would affect us and we would lose customers," Nishimatsu was quoted as saying. "If we lose recognition from customers, restructuring would be difficult and this will trouble the ETIC too."
JAL's shares hit a record low last week on expectations that it was headed for bankruptcy.
The Asahi also said Nishimatsu was eyeing an alliance with Delta and the SkyTeam airline group, ending its current ties with American Airlines and the oneworld alliance.
The two U.S. carriers have made rival offers of financial aid, keen to gain a greater foothold in Japan and access to JAL's network to the rest of Asia.
"(Switching to SkyTeam) would involve a big process of changing systems, but (we need to consider) whether or not to value Asia," Nishimatsu told the Asahi. "In that sense, SkyTeam has many Asian carriers."
JAL has said it will make a decision on which overseas partner it will choose by early January.
Despite being burdened by unprofitable international routes, Nishimatsu ruled out a complete withdrawal from overseas flights, saying Asian routes offered business opportunities.
Several Japanese cabinet ministers have asked JAL to hand its international business over to rival carrier All Nippon Airways, but the transport minister is opposed to the idea, the Mainichi Shimbun reported last week.
(Reporting by Chisa Fujioka; Editing by Jeremy Laurence)
Sun Jan 3, 2010 2:41pm
TOKYO (Reuters) - The president of Japan Airlines Corp said he is against a bankruptcy proceeding under a state restructuring plan and has no plans to completely withdraw the carrier from overseas flights, the Asahi Shimbun reported.
In an interview conducted on Friday and published on Sunday, the Asahi also said JAL President Haruka Nishimatsu preferred Delta Air Lines as the carrier's overseas partner to American Airlines.
JAL, hit by a global downturn in travel and a bloated cost base, has been seeking a bailout from the state-backed Enterprise Turnaround Initiative Corp of Japan (ETIC), which is expected to make a decision on whether to support the airline this month.
On Sunday, the government said the state-owned Development Bank of Japan would double its credit line for JAL to 200 billion yen ($2.15 billion), Kyodo news agency reported, as the airline struggles for survival.
The ETIC, a state-backed fund established to inject capital into and buy the debt of struggling but viable firms, has told JAL's main creditors it favours a bankruptcy proceeding as part of its rescue package, sources have told Reuters.
But Nishimatsu is against the plan, suggesting tough negotiations ahead between the airline and the ETIC, the Asahi reported.
"The image (of bankruptcy) would affect us and we would lose customers," Nishimatsu was quoted as saying. "If we lose recognition from customers, restructuring would be difficult and this will trouble the ETIC too."
JAL's shares hit a record low last week on expectations that it was headed for bankruptcy.
The Asahi also said Nishimatsu was eyeing an alliance with Delta and the SkyTeam airline group, ending its current ties with American Airlines and the oneworld alliance.
The two U.S. carriers have made rival offers of financial aid, keen to gain a greater foothold in Japan and access to JAL's network to the rest of Asia.
"(Switching to SkyTeam) would involve a big process of changing systems, but (we need to consider) whether or not to value Asia," Nishimatsu told the Asahi. "In that sense, SkyTeam has many Asian carriers."
JAL has said it will make a decision on which overseas partner it will choose by early January.
Despite being burdened by unprofitable international routes, Nishimatsu ruled out a complete withdrawal from overseas flights, saying Asian routes offered business opportunities.
Several Japanese cabinet ministers have asked JAL to hand its international business over to rival carrier All Nippon Airways, but the transport minister is opposed to the idea, the Mainichi Shimbun reported last week.
(Reporting by Chisa Fujioka; Editing by Jeremy Laurence)
Japan to double credit line for JAL: report
Sun Jan 3, 2:51 am ET
TOKYO (AFP) – The Japanese government agreed Sunday to double a state-funded credit line for troubled Japan Airlines to 200 billion yen (2.2 billion dollars), Jiji Press reported.
The extra funding was agreed at a meeting of cabinet ministers including Transport Minister Seiji Maehara and Vice Prime Minister Naoto Kan, the news agency said.
The state-run Development Bank of Japan had set a credit line of 100 billion yen for JAL in November and has already paid out just over half of the total to the carrier, Asia's largest.
JAL, battered by the global recession and swine flu pandemic, is scrambling to slash costs and is seeking its fourth government bailout since 2001 to keep flying in the face of mounting losses.
Sun Jan 3, 2:51 am ET
TOKYO (AFP) – The Japanese government agreed Sunday to double a state-funded credit line for troubled Japan Airlines to 200 billion yen (2.2 billion dollars), Jiji Press reported.
The extra funding was agreed at a meeting of cabinet ministers including Transport Minister Seiji Maehara and Vice Prime Minister Naoto Kan, the news agency said.
The state-run Development Bank of Japan had set a credit line of 100 billion yen for JAL in November and has already paid out just over half of the total to the carrier, Asia's largest.
JAL, battered by the global recession and swine flu pandemic, is scrambling to slash costs and is seeking its fourth government bailout since 2001 to keep flying in the face of mounting losses.
Japan Press: JAL choose DELTA and to leave oneWorld
According to report from Yomiuri Shimbun on 04JAN10, JAL appears to have chosen DELTA as its strategic partner for its massive restructure.
The report says followed by the decision of choosing DELTA, JAL will be leaving oneWorld and joining Skyteam. However, JAL has denied the report. American Airlines also said it is still in negotiation with JAL.
DELTA is providing USD1.02billion supporting JAL restructure. This includes coverage of USD500 million capital, plus covering projected USD300 million loss during JAL’s transition from oneWorld to Skyteam. It is also covering the cost of Reservation system t re-alignment to Skyteam.
DELTA currently has 32% shares on the US-Japan market, while JAL has 22% and American is 8%
http://www.yomiuri.co.jp/atmoney/news/20100104-OYT1T00604.htm?from=yoltop
http://airlineroute.net/2010/01/04/jal-update1/
According to report from Yomiuri Shimbun on 04JAN10, JAL appears to have chosen DELTA as its strategic partner for its massive restructure.
The report says followed by the decision of choosing DELTA, JAL will be leaving oneWorld and joining Skyteam. However, JAL has denied the report. American Airlines also said it is still in negotiation with JAL.
DELTA is providing USD1.02billion supporting JAL restructure. This includes coverage of USD500 million capital, plus covering projected USD300 million loss during JAL’s transition from oneWorld to Skyteam. It is also covering the cost of Reservation system t re-alignment to Skyteam.
DELTA currently has 32% shares on the US-Japan market, while JAL has 22% and American is 8%
http://www.yomiuri.co.jp/atmoney/news/20100104-OYT1T00604.htm?from=yoltop
http://airlineroute.net/2010/01/04/jal-update1/
Attenzione, non è ancora confermato che JAL passi ad altra alleanza.
Fino a quando non ci saranno comunicati ufficiali si rimane sempre nell'ambito delle indiscrezioni.
Certo però DL sembra essere in pole-position in questo momento.
Questa la versione in inglese dell'articolo citato come fonte, più comprensibile della versione nipponica 
JAL, Delta seen forming business ties
The Yomiuri Shimbun
Japan Airlines and a state-backed corporate turnaround body likely will decide that the struggling airline company will form a business and capital tie-up with Delta Air Lines, the world's largest airline, a move that would significantly reduce JAL's international route operations, sources said Monday.
With the move, JAL, which now belongs to the Oneworld alliance, will become part of the rival SkyTeam group. The tie-up is likely to make a certain measure of headway in solving JAL's financial woes under the supervision of the Enterprise Turnaround Initiative Corporation of Japan since cuts in international route operations are likely to be accelerated through an expansion of a code-sharing arrangement in the Asia-Pacific region, the sources said.
American Airlines, the world's second-largest carrier, which also was seeking a tie-up with JAL, has already begun the necessary procedures to end the negotiations. With the end of its close decadelong relationship with JAL, American is expected to be forced to downsize international business operations involving Japan.
Delta had already offered JAL a 1.02 billion dollars financial package with global SkyTeam alliance members, including a 500 million dollars investment and a 300 million dollars guarantee to cover any short-term drop in sales caused by JAL transferring to SkyTeam.
The U.S. airline also is set to cover costs JAL will incur when changing computer systems for the alliance transfer and to take over JAL's mileage program that enables customers to change air mile points with airline tickets.
Delta holds 32 percent of the market share of the Pacific route linking Japan and the United States, American 8 percent and JAL 22 percent.
With the expected tie-up, JAL can boost its long-term earning capacity through the abolition or rationalization of its own international route operations, while expanding the code-sharing agreement with Delta.
In December, Japan and the United States agreed to liberalize air traffic rules under a so-called open skies agreement, allowing Japanese and U.S. carriers to freely decide on the routes and numbers of flights between the countries.
Based on the open skies agreement, JAL and Delta are expected to apply to the U.S. authorities for antitrust immunity by the end of February.
Once they obtain the immunity, they will be able to enjoy benefits close to that of a merger, including profit sharing, by better coordinating the timetable and airfare rates of their transpacific operations.
American had said it was prepared to invest 1.1 billion dollars in JAL along with U.S. private-equity firm TPG Inc., but the tie-up between American and JAL, both Oneworld members, was seen as unlikely to produce benefits matching the investment, while JAL and the state-owned entity became increasingly reluctant to accept the investment by the private-equity firm.
(Jan. 5, 2010)
JAL, Delta seen forming business ties
The Yomiuri Shimbun
Japan Airlines and a state-backed corporate turnaround body likely will decide that the struggling airline company will form a business and capital tie-up with Delta Air Lines, the world's largest airline, a move that would significantly reduce JAL's international route operations, sources said Monday.
With the move, JAL, which now belongs to the Oneworld alliance, will become part of the rival SkyTeam group. The tie-up is likely to make a certain measure of headway in solving JAL's financial woes under the supervision of the Enterprise Turnaround Initiative Corporation of Japan since cuts in international route operations are likely to be accelerated through an expansion of a code-sharing arrangement in the Asia-Pacific region, the sources said.
American Airlines, the world's second-largest carrier, which also was seeking a tie-up with JAL, has already begun the necessary procedures to end the negotiations. With the end of its close decadelong relationship with JAL, American is expected to be forced to downsize international business operations involving Japan.
Delta had already offered JAL a 1.02 billion dollars financial package with global SkyTeam alliance members, including a 500 million dollars investment and a 300 million dollars guarantee to cover any short-term drop in sales caused by JAL transferring to SkyTeam.
The U.S. airline also is set to cover costs JAL will incur when changing computer systems for the alliance transfer and to take over JAL's mileage program that enables customers to change air mile points with airline tickets.
Delta holds 32 percent of the market share of the Pacific route linking Japan and the United States, American 8 percent and JAL 22 percent.
With the expected tie-up, JAL can boost its long-term earning capacity through the abolition or rationalization of its own international route operations, while expanding the code-sharing agreement with Delta.
In December, Japan and the United States agreed to liberalize air traffic rules under a so-called open skies agreement, allowing Japanese and U.S. carriers to freely decide on the routes and numbers of flights between the countries.
Based on the open skies agreement, JAL and Delta are expected to apply to the U.S. authorities for antitrust immunity by the end of February.
Once they obtain the immunity, they will be able to enjoy benefits close to that of a merger, including profit sharing, by better coordinating the timetable and airfare rates of their transpacific operations.
American had said it was prepared to invest 1.1 billion dollars in JAL along with U.S. private-equity firm TPG Inc., but the tie-up between American and JAL, both Oneworld members, was seen as unlikely to produce benefits matching the investment, while JAL and the state-owned entity became increasingly reluctant to accept the investment by the private-equity firm.
(Jan. 5, 2010)
Questa la versione in inglese dell'articolo citato come fonte, più comprensibile della versione nipponica
direi
google fa pena con le traduzioni :clown:
comunque è vero JAL non ha confermato
L'indice Nikkei della borsa di Tokyo ha chiuso la seduta con una flessione dello 0,5% a 10.681,66 punti dopo tre giorni positivi che avevano portato le quotazioni ai massimi da 15 mesi. Pesante anche oggi l'andamento del titolo Japan Airlines che ha lasciato sul terreno il 9,5% dopo l'annuncio di una perdita netta di 13,3 miliardi di dollari quest'anno, a causa dei pesanti oneri di ristrutturazione.
ilsole24ore
ilsole24ore
JAL filing for bankruptcy?
JAL bankruptcy plan in the works
Thursday January 7, 2010
Signs continue to point toward Japan Airlines entering into a court-monitored bankruptcy proceeding, with reports from Tokyo indicating that both the Enterprise Turnaround Initiative Corp. of Japan, which will oversee the restructuring, and the Development Bank of Japan, JAL's largest creditor, favor bankruptcy over a government bailout.
JAL President Haruka Nishimatsu has expressed reservations about bankruptcy, warning that it would carry negative connotations that could drive away passengers.
But government officials appear increasingly leery of a direct bailout, worrying that providing taxpayer funds to the troubled airline would be frowned on in a country hit hard by the recession. Kyodo News reported that ETIC is developing a restructuring plan that would include JAL's filing for bankruptcy under Japan's Corporate Rehabilitation Law but also would provide special safeguards that would keep the airline flying and minimize the process's uncertainty, similar in some respects to a US Chapter 11 filing.
ETIC reportedly would ensure that the carrier's shares will continue to be listed on the Tokyo Stock Exchange after the filing in order to limit disruptions to JAL's normal business functions. It also would ensure that enough capital is injected into JAL to keep it operating through the bankruptcy process, including guaranteeing sufficient funding to allow it to pay for fuel and cover maintenance and other operational costs, and would push the carrier's major creditors to forgive hundreds of billions of yen in debt.
Nikkei reported that DBJ backs this option over a bailout because even though it would take a financial hit, the court-monitored process would allow for greater transparency and make it easier for JAL to cut labor costs, giving it a better chance for longer-term viability.
It is not clear how a bankruptcy filing would affect JAL's negotiations with Delta Air Lines and American Airlines about one of those carriers taking a stake.
AA Senior VP-Government Affairs Will Ris told Reuters that the carrier is "flexible" and along with partner TPG Capital would be willing to invest in JAL even if it filed for bankruptcy. "We are okay either way [bailout or bankruptcy] and what we want to do is position ourselves so that we can act very quickly depending on which scenario takes place and make our capital investment available at that time," he said. He added that AA is "continually in conversation with Japan Airlines" and its $1.1 billion offer in conjunction with TPG could be improved. "We are looking at every possibility to make our proposal more attractive," he said.
by Aaron Karp
ATWOnline
JAL bankruptcy plan in the works
Thursday January 7, 2010
Signs continue to point toward Japan Airlines entering into a court-monitored bankruptcy proceeding, with reports from Tokyo indicating that both the Enterprise Turnaround Initiative Corp. of Japan, which will oversee the restructuring, and the Development Bank of Japan, JAL's largest creditor, favor bankruptcy over a government bailout.
JAL President Haruka Nishimatsu has expressed reservations about bankruptcy, warning that it would carry negative connotations that could drive away passengers.
But government officials appear increasingly leery of a direct bailout, worrying that providing taxpayer funds to the troubled airline would be frowned on in a country hit hard by the recession. Kyodo News reported that ETIC is developing a restructuring plan that would include JAL's filing for bankruptcy under Japan's Corporate Rehabilitation Law but also would provide special safeguards that would keep the airline flying and minimize the process's uncertainty, similar in some respects to a US Chapter 11 filing.
ETIC reportedly would ensure that the carrier's shares will continue to be listed on the Tokyo Stock Exchange after the filing in order to limit disruptions to JAL's normal business functions. It also would ensure that enough capital is injected into JAL to keep it operating through the bankruptcy process, including guaranteeing sufficient funding to allow it to pay for fuel and cover maintenance and other operational costs, and would push the carrier's major creditors to forgive hundreds of billions of yen in debt.
Nikkei reported that DBJ backs this option over a bailout because even though it would take a financial hit, the court-monitored process would allow for greater transparency and make it easier for JAL to cut labor costs, giving it a better chance for longer-term viability.
It is not clear how a bankruptcy filing would affect JAL's negotiations with Delta Air Lines and American Airlines about one of those carriers taking a stake.
AA Senior VP-Government Affairs Will Ris told Reuters that the carrier is "flexible" and along with partner TPG Capital would be willing to invest in JAL even if it filed for bankruptcy. "We are okay either way [bailout or bankruptcy] and what we want to do is position ourselves so that we can act very quickly depending on which scenario takes place and make our capital investment available at that time," he said. He added that AA is "continually in conversation with Japan Airlines" and its $1.1 billion offer in conjunction with TPG could be improved. "We are looking at every possibility to make our proposal more attractive," he said.
by Aaron Karp
ATWOnline
American Airlines next week will announce that its offer in conjunction with TPG Capital to invest $1.1 billion in troubled Japan Airlines has been raised to $1.4 billion, according to The Wall Street Journal. AA reportedly met with JAL officials yesterday and informed them of the improved offer. Neither airline confirmed the report. AA and Delta Air Lines are jockeying to participate in JAL's restructuring, which could take the form of a court-monitored bankruptcy proceeding. DL has offered an investment package valued at around $1 billion, but President Ed Bastian told reporters yesterday that the offer may be raised. "We are willing and able to raise additional capital through third-party resources," he said. But he cautioned that "the focus should be on who provides the most [beneficial] long-term commercial partnership, not who provides the most short-term cash." Meanwhile, Nikkei reported yesterday that JAL's net loss for its full fiscal year ending March 31 is expected to exceed ¥1.2 trillion yen ($13 billion).
EDIT DELL' AMMINISTRAZIONE
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EDIT DELL' AMMINISTRAZIONE
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JAL begins Vietnam Air Hanoi – Osaka codeshare
JAL from 13JAN10 begins codesharing on Vietnam Airlines’ Hanoi – Osaka service. Codeshare flight number as follows:
ROUTE JL Codeshare VN Operating
Hanoi – Osaka JL5126 VN944
Osaka – Hanoi JL5125 VN945
airlineroute.net
Prove di ingresso in SkyTeam?
JAL from 13JAN10 begins codesharing on Vietnam Airlines’ Hanoi – Osaka service. Codeshare flight number as follows:
ROUTE JL Codeshare VN Operating
Hanoi – Osaka JL5126 VN944
Osaka – Hanoi JL5125 VN945
airlineroute.net
Prove di ingresso in SkyTeam?
JAL begins Vietnam Air Hanoi – Osaka codeshare
JAL from 13JAN10 begins codesharing on Vietnam Airlines’ Hanoi – Osaka service. Codeshare flight number as follows:
ROUTE JL Codeshare VN Operating
Hanoi – Osaka JL5126 VN944
Osaka – Hanoi JL5125 VN945
airlineroute.net
Prove di ingresso in SkyTeam?
Sono parecchi i membri di SkyTeam con cui JAL opera in codeshare.
VN sarebbe solo l'ennesima compagnia.
- Stato