JAL lifeline approved

BTN News
Wednesday, 25 November 2009
Beleaguered Japan Airlines says it has obtained government approval to receive up to US$1.1 billion in emergency loans from the state-run Development Bank of Japan aimed at keeping it afloat.

The Transport Ministry authorised the airline's application for the loans after confirming "an event which would interfere with our flight operations could occur," in which "convenience for users and corporate activities would be significantly affected."


JAL also obtained government approval for separate loans of JPY25 billion (US$282.2 million) for aircraft imports.


JAL booked US$1.5 billion in losses in the first half of the fiscal year, and has interest-bearing debt totalling nearly US$10 billion.

JAL lifeline approved

BTN News
Wednesday, 25 November 2009
Beleaguered Japan Airlines says it has obtained government approval to receive up to US$1.1 billion in emergency loans from the state-run Development Bank of Japan aimed at keeping it afloat.

The Transport Ministry authorised the airline's application for the loans after confirming "an event which would interfere with our flight operations could occur," in which "convenience for users and corporate activities would be significantly affected."


JAL also obtained government approval for separate loans of JPY25 billion (US$282.2 million) for aircraft imports.


JAL booked US$1.5 billion in losses in the first half of the fiscal year, and has interest-bearing debt totalling nearly US$10 billion.