11:54 am - Friday
Japan Airlines obtaines bailout funding
Tokyo, Japan - Deal signed with Development Bank of Japan worth JPY100 billion
(WAPA) - JAL-Japan Airlines has signed an agreement with Development Bank of Japan to receive a bailout bridge loan worth up to JPY100 billion (US$1.1 billion). The financing will be guaranteed by Tokyo's government and aims to keep the carrier alive.
The final decision has been taken due to the consequences that the present situation would have had on citizens and economy of the country. In the first half of the fiscal year, JAL reported a US$1.5 billion loss and is facing serious difficulties due to the heavy interests on his debts that total nearly US$10 billion.
Recently US carrier Delta Airlines, together with its SkyTeam partners, had presented a US$1 billion offer to convince JAL to leave the oneworld group of which it is currently a member. (Avionews)
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Direttore Clara Moschini