News Tag: Delta
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 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 24, 2009
Struggling Japan Airlines (JAL) yesterday saw its shares close at a record low of 87 yen on the Tokyo Stock Exchange after it emerged that Mitsui & Co broking house had sold all its shares in the carrier.
A spokesperson for Mitsui & Co said it had sold all of its 11.7 million shares between the April and September period.
The ...
Japan Airlines shares fall to record low
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
May 20, 2009
The airline industry continues to suffer amid the economic downturn and in an attempt to slash costs, Europe’s largest airline, Air France-KLM is to axe 2,700 positions.
The news came after the company announced its results, which beat market expectations and sent its shares up by 11%.
The carrier suffered a net loss of €505 million (£444 million) in ...
Air France-KLM to axe 2,700 posts amid fall in demand
by Kay Murchie
