JAL mulls raising 2.8 billion dollars
Japan Airlines Corp. (JAL) is considering plans to raise around 250
billion yen (2.8 billion dollars) by March next year to help finance its
restructuring, a newspaper reported on Sunday.
Under the plan, Japan's cash-strapped carrier will request 100
billion yen in loans from financial institutions, the Nikkei business
daily reported.
It will separately raise more than 100 billion yen by issuing new
shares, while raising a further 50-60 billion yen by selling stocks in
subsidiaries and other assets, the newspaper said.
JAL plans to ask aircraft makers, trading houses, investment funds
and the government-run Development Bank of Japan to take stakes, it
said.
US carrier Delta Air Lines has already told JAL of its interest in
investing up to 50 billion yen, local media earlier reported.
Such an investment would give the world's largest airline operator a
stake of up to 11 percent in JAL, which is undergoing a
government-supervised reorganisation, media reported.
JAL lost more than one billion dollars in the April-June quarter and
has announced more than 11,000 job cuts since 2005.
AFP
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