Pressure grows on JAL to cut costs
TOKYO – Japan Airlines Corp has asked its four major creditors to provide hundreds of billions of yen to bolster its capital base, sources have told Ashai Shimbun.
The banks may require the struggling airline to carry out further restructuring, including a payroll overhaul, analysts said.
The four banks are considering swapping part of their outstanding loans to JAL with equity stakes in the company and other options, the sources said.
JAL is saddled with about 1.7 trillion yen in interest-bearing debts.
JAL is seeking agreement from the four banks before its shareholders meeting in late June, the sources said.
Ian Jarrett
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Euromonitor International unveils world’s top 100 city destinations for 2025