JAL might consolidate with ANA: lawmakers
By Chikafumi Hodo |
January 1, 2010, Friday
|
Print Edition
Print Edition
SEVERAL cabinet members of the Japanese government want Japan Airlines Corp to withdraw completely from international flights and consolidate the airline with All Nippon Airways Co, the Mainichi Shimbun newspaper reported yesterday.
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 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 will terminate flights on 30 routes, including 13 international destinations, by June.
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 lend it money without guarantees.
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 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 will terminate flights on 30 routes, including 13 international destinations, by June.
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 lend it money without guarantees.
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