A government task force set up to help rescue Japan Airlines Corp said today it would review the carrier’s turnaround plans from scratch as investors dumped shares in Japan Airlines (JAL) on Thursday following reports that the loss-making carrier would request another government bailout and could break up its operations. Japan’s transport minister said he will not force the struggling carrier, Asia’s biggest, into bankruptcy. “We will not crush and liquidate (the airline), it’s just impossible,” Land, Infrastructure and Transport Minister Seiji Maehara said on a TV Asahi talk show, according to AP. ” The task force will make a recommendation to the transport minister by late October or early November, but in the meantime JAL plans to slash 6,800 jobs. The former state-owned carrier’s fate remains highly uncertain as it struggles with US$15 billion of debt and a likely second straight annual loss. The government task force said that splitting JAL into “good” and “bad” parts was an option.
Related Articles
- Xeneta reports resilient air cargo market despite July IT outage
- Lufthansa Cargo presents commitment to transforming the aviation industry
- Lufthansa Cargo continues to rely on the cargo handling services of Vienna Airport
- Vietjet Air Cargo, Teleport deepen partnership with exclusive commercial rights on first key lane
- Budapest Airport Revolutionises Cargo Operations With Kale Info Solutions’ Airport Cargo Community System
- RTX’s Pratt & Whitney announces GTF MRO capacity expansion at West Palm Beach facility