News Tag: American Airlines
February 19, 2010
The Unite union has been unsuccessful in its High Court action against British Airways (BA) to stop the airline from imposing cost-cutting measures.
The union claimed it was not properly consulted on the measures, which include a pay freeze and a switch to part-time working for 3,000 staff.
BA cabin crew had been set to take industrial ...
Unite fails in High Court bid over BA proposed cuts
by Kay Murchie
February 15, 2010
Shares in British Airways (BA) were up more than 4% this morning after US regulators have given the go-ahead to permit American Airlines and BA to coordinate schedules and share costs.
Preliminary approval of the alliance was approved by the Department of Transportation (DOT) over the weekend.
A combined firm would create the world’s third largest airline and offer lower fares ...
BA shares up on American Airlines alliance
by Kay Murchie
January 12, 2010
Shares in troubled Japan Airlines (JAL) plummeted to a fresh low today amid fears that the carrier is to enter bankruptcy proceedings within the next couple of days.
Shares fell by 45% to a fresh low of 37 yen on the Tokyo stock exchange as a bankruptcy filing seems unavoidable.
State-owned Development Bank of Japan has already agreed to ...
Japan Airlines plummet to fresh low amid bankruptcy fears
by Kay Murchie
January 3, 2010
Struggling Japan Airlines (JAL) has had its credit line doubled to 200 billion yen (£1.3 billion) after an agreement by the Japanese Government today, according to Kyodo news agency.
The extra funding was agreed by Deputy Prime Minister Naoto Kan, Transport Minister Seiji Maehara and other ministers at a meeting this weekend.
A statement said: "The government has decided ...
Japanese Government to double credit line for JAL
by Kay Murchie
December 30, 2009
Shares in troubled Japan Airlines (JAL) plummeted to a fresh low today, losing 24% to 67 yen.
The stock plummeted for a second consecutive day amid reports that the carrier is heading towards bankruptcy under a state restructuring plan.
The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to a slump in demand.
Many ...
Japan Airlines shares hit fresh record low
by Kay Murchie
December 29, 2009
Shares in troubled Japan Airlines (JAL) plummeted by 11% today to a record low of 85 yen amid reports that the carrier could be forced to file for bankruptcy.
The stock has lost almost 60% of its value this year.
The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to ...
Japan Airlines shares hit record low amid bankruptcy rumours
by Kay Murchie
December 7, 2009
Struggling Japan Airlines (JAL) saw it shares soar 7% to 107 yen today after speculation that the Japanese Government is looking to guarantee about 700 billion yen ($7.8 billion; £4.7 billion) in loans to the debt-laden airline.
Since 2001, JAL, which is Asia’s largest carrier, has been bailed out four times by the Government.
The airline has been struggling amid the global ...
JAL shares up on Government funding rumours
by Kay Murchie
December 3, 2009
Struggling Japan Airlines (JAL) has been offered another financial lifeline, this time from American Airlines and private equity firm TPG.
The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to a slump in demand.
Many airlines have been forced out of business as fewer people are travelling by air.
However, JAL has ...
American Airlines & TPG offer lifeline to Japan Airlines
by Kay Murchie
November 18, 2009
Asia’s largest carrier, Japan Airlines (JAL), has been offered a $1 billion (£600 million) lifeline from Delta Air Lines and its Sky Team alliance partners.
According to Delta, the rescue package includes a $500 million equity injection, a revenue guarantee worth $300 million, asset-backed funding worth $200 million and $20 million to cover JAL's costs for switching alliances.
Under the terms of the ...
Struggling Japan Airlines offered lifeline
by Kay Murchie
September 15, 2009
Japan Airlines (JAL) has announced plans to cut its operating schedule and reduce headcount by almost 7,000.
The loss-making airline said that a total of 6,800 jobs will go as it embarks on a cost-cutting exercise and is making plans for fuel-efficiency and a focus on business customers.
The news comes as there are rumours that several US and ...
Thousands of jobs set to go at Japan Airlines
by Kay Murchie
