Japan's All Nippon Airways plans capital boost
Japan's All Nippon Airways plans to raise about 1.6 billion dollars
to help it weather an industry downturn caused by an economic slowdown
and a flu pandemic, reports said Wednesday.
Japan's second-largest carrier aims to sell new shares worth about
150 billion yen (1.57 billion dollars), the Nikkei business daily and
Jiji Press said.
The airline is expected to officially decide on the plan at a special
board meeting Wednesday, Jiji said. There was no immediate confirmation
from ANA.
ANA reportedly hopes to boost its capital before Tokyo's Narita and
Haneda airports expand in 2010, creating more arrival and departure
slots.
It has ordered 50 fuel-efficient 787 Dreamliners from Boeing Co.,
although the US aerospace giant has repeatedly postponed the launch.
In April, ANA announced a net loss of 4.26 billion yen for the
financial year to March, its first annual loss in six years.
But it is in better shape than Japan Airlines, Asia's largest
carrier. JAL has reportedly secured loans of 100 billion yen from a
group of banks, including two state-backed lenders, to help it through
the economic crisis. TOKYO, AFP
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