JAL shares in freefall

Tuesday, 13 Jan, 2010 0

TOKYO – Another crucial day looms for Japan Airlines following yesterday’s sharp plunge in its shares.

Amid mounting speculation that the carrier will file for bankruptcy next week, JAL shares tumbled by the daily limit of 30 yen for the second day in a row, falling 81 percent yesterday to a new record low of just seven yen (7.7 cents).

The airline’s market value has fallen by about US$1.8bn in two days to $200m.

According to the BBC JAL is set to receive government funds worth about 300bn yen under a restructuring package.
The package would see it file for bankruptcy.

“The selling is unstoppable,” said Hideaki Higashi, market strategist at SMBC Friend Securities.

“Event-driven market players are hammering down JAL. It’s a money game.

“The market is driving the company to go under,” he said, adding that the share price could technically fall to one yen.



 

profileimage

Ian Jarrett



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...