News Tag: Japan Airlines
February 26, 2010
Japan Airlines (JAL), which last month filed for bankruptcy protection, has today posted a net loss of 177.9 billion yen (£1.31 billion, $2 billion) for the nine months to December 2009.
The airline’s executive officer, Norikazu Saito, told reporters it suffered an operating loss of 120.8 billion yen on sales revenue of 1.14 trillion yen - a fall of around 27% against the ...
JAL reports 177.9bn yen loss
by Kay Murchie
January 27, 2010
The airline industry has been hit hard during the global economic downturn, which has led to a slump in demand for air travel with fewer people travelling.
Many airlines went bust during the downturn, not just due to a fall in demand but also as a result of higher fuel prices.
According to the International Air Transport Association (IATA), 2009 saw the biggest ...
Airline industry suffers worst ever year
by Kay Murchie
January 19, 2010
As expected, Japan Airlines (JAL) has today filed for bankruptcy protection.
The airline, which is Asia's biggest carrier, has been struggling amid the global economic downturn and has been grappling with a mountain of debts of around $16.5 billion (£10 billion).
The Japanese Government has said that flights will operate as normal and the airline will now begin its restructure under the watchful eye ...
Japan Airlines files for bankruptcy
by Kay Murchie
Bankruptcy protection imminent for Japan Airlines
by Kay Murchie
January 18, 2010
Shares in troubled Japan Airlines (JAL) plummeted again today to a fresh low of 5 yen as a bankruptcy filing seemed unavoidable.
The airline, which is Asia’s largest carrier, is expected to file for bankruptcy protection tomorrow as part of a Government rescue plan.
Like many other airlines, it has been struggling amid the global economic downturn ...
Shares in Japan Airlines fall to fresh low of 5 yen
by Kay Murchie
January 13, 2010
Shares in troubled Japan Airlines (JAL) plummeted 81% to just 7 yen today after falling 45% yesterday to 37 yen.
The stock fell for a second consecutive day as a bankruptcy filing seemed unavoidable.
JAL’s market value has dived by around $1.8 billion in two days to $200 million.
According to Hideaki Higashi, market strategist at SMBC Friend ...
Shares in Japan Airlines plummet 81% to just 7 yen
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 11, 2010
Troubled Japan Airlines (JAL) is expected to enter bankruptcy proceedings within the next couple of days, according to reports.
It is believed the state-owned Development Bank of Japan has already agreed to the bankruptcy.
The airline, which is Asia’s largest carrier, is grappling with a mountain of debt and it is currently under the watchful eye of the state-backed turnaround body (the Enterprise Turnaround ...
Bankruptcy looming for Japan Airlines
by Kay Murchie
January 4, 2010
Shares in troubled Japan Airlines (JAL) soared 31% today after it was revealed that the Japanese Government had asked the state-owned Development Bank of Japan (DBJ) to double JAL’s credit line to JAL to 200 billion yen (£1.4 billion).
The airline has already used 55 billion yen of the 100 billion yen credit line set up by the DBJ.
The extra funding ...
JAL shares recover after Government loans deal
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 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
October 26, 2009
Asia’s largest carrier, Japan Airlines (JAL), is to be placed under the supervision of a state-backed turnaround body, according to reports.
Speculation that the Enterprise Turnaround Initiative Corporation of Japan may take control of the loss-making airline next week sent its shares up 2.6%.
The Enterprise Turnaround Initiative Corporation of Japan buys the debt of struggling companies and sends in turnaround specialists ...
State-backed turnaround body to oversee Japan Airlines
by Kay Murchie
October 19, 2009
Asia’s largest carrier, Japan Airlines (JAL), is set to be bailed out by the Government after a restructuring plan was rejected by its creditor banks.
The airline, like many others throughout the world, is struggling to stay afloat during the global economic downturn which has led to a slump in demand. Many airlines have been forced out of business as fewer people are ...
Japanese Government to bailout JAL
by Kay Murchie
September 24, 2009
Struggling Japan Airlines (JAL) has confirmed it has asked the Government for public funds to strengthen its capital base and save it from collapse.
The news comes just a week after the loss-making carrier announced plans to cut its operating schedule and reduce headcount by almost 7,000.
JAL president, Haruka Nishimatsu, said he is also proposing a major restructure after meeting with ...
Struggling Japan Airlines seeks Government funding
by Kay Murchie
September 17, 2009
Russian airline Aeroflot has announced to plans to reduce its headcount by 13% - around 2,000 jobs in the next six months.
The airline, which is 51% government owned, said profits had dived amid higher fuel prices and losses at its cargo operations, which declared bankruptcy in June.
Furthermore, the airline hasn‘t ruled out further job cuts.
In July, the airline announced ...
Russian airline Aeroflot to cut 2,000 jobs
by Kay Murchie
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