A mixture of asset write-downs, restructuring, consolidation and recovery is on the cards for the Japanese airfreight sector, according to a new report from Business Monitor International . The bankrupt Japan Airlines (JAL), Asia's largest air carrier, was expected to have registered an operating loss of nearly US$1.7 billion in the fiscal year ended 31 March 2010. This was attributed to a sharp decline in revenues resulting from a rapid slowdown in the Japanese economy. After 2009's very steep … [Read more...] about Still some turbulance in Japan’s air cargo sector
Japan Airlines
ANA boss complains about government support for JAL
ANA President and CEO Shinichiro Ito questioned whether public aid for bankrupt Japan Airlines distorts Japan's competitive environment. Testifying before a government committee, Ito said JAL's turnaround program is progressing "haphazardly," according to a Nikkei report. JAL is receiving around Â¥900 billion (US$9.6 billion) in government support to ensure its survival as it navigates through a court-monitored bankruptcy restructuring. … [Read more...] about ANA boss complains about government support for JAL
JAL succumbs to bankruptcy
The axe has finally fallen at Japan Airlines (JAL) with the beleagured carrier filing for court-protected bankruptcy and turning to Japan’s state-owned Enterprise Turnaround Initiative Corporation (ETIC) for restructuring support. In one of Japan's biggest corporate failures, JAL applied for protection from creditors under the Corporate Rehabilitation Law — Japan's version of the US' Chapter 11 — with the Tokyo District Court. ETIC has confirmed that it will … [Read more...] about JAL succumbs to bankruptcy
JAL cuts 16 routes, turnaround plan next year
Trougled carrier Japan Airlines (JAL) will discontinue a total of 16 routes starting next month as part of its own efforts to reduce operating costs and cut losses, Dow Jones reported. The airline said it will cut eight international passenger routes, mainly to destinations in Asia. A further eight domestic passenger routes will be discontinued, including short-haul flights like Tokyo to Kobe, as well as one cargo route. JAL also said it will downsize the aircraft used on a further five routes. … [Read more...] about JAL cuts 16 routes, turnaround plan next year
JAL code shares with Vietnam Airlines
Japan Airlines (JAL) will start code sharing on flights operated by Vietnam Airlines (VN) between Fukuoka and Hanoi from 27 October, JAL said. Vietnam's sustained high economic growth has continued to attract many foreign investments including from Japanese enterprises, and as a tourist destination, has also been gaining popularity for its unique heritage, art and culture. To meet the rising demand for both business and leisure travel, JAL has been expanding its reach to Vietnam. … [Read more...] about JAL code shares with Vietnam Airlines
JAL sees stability start to return
Japan Airlines delivered another stable month in terms of cargo volumes in August, with volumes down 10.8 per cent year-on-year. That compares with a first-quarter figure to 31 June that was down 10.3 per cent year-on-year and second-quarter volumes down 8 per cent. … [Read more...] about JAL sees stability start to return
