Japan Airlines Soars Ahead of Bailout Plan
2009-10-29 11:45
And in other business news, Japan Airlines shares jumped on Thursday ahead of an awaited government bailout plan.
A task force will submit a reform plan to the transport minister that will offer a lifeline to Japan Airlines. The troubled airline has been weighed down by $15 billion in debt—and it’s heading for its fourth annual loss. Japan Airlines reportedly needs $8.8 billion for future retirement and pension payments.
The transport minister says Japan Airline's revival is extremely important for Japan's economy, and the government says it’s fully committed to the airline’s turnaround.












