Japan Airlines, Asia’s biggest airline, will file for bankruptcy protection today, shortly after Tokyo’s Stock Exchanges closing time.
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Tag Archives: japan airlines
Delta & Japan Airlines to join the Far East Alliance
The Sky Team grouping of airlines that is headed by Delta Air Lines volunteered a helping hand to Japan Airlines (JAL) which equals to $1bn (£600m). According to Delta, cash assets were proffered to Japan Airlines in case it quitted from the One World Alliance where American Airlines was the member of it.
Asia’s largest airline cuts pensions to avoid bankruptcy
Asia’s largest airline is threatened to file bankruptcy unless 9,000 former employees are forced to have their payouts cut. This is a result of JPY330 billion yen (USD$3.6 billion) loss that the company suffered in March.
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Japan Airlines to cut 13,000 jobs
According to recent news, Japan Airlines (JAL) is going through some hard times due to the economical downturn and is planning a restructuring. As a result, the company will cut 13,000 jobs by 2015, a number considerably bigger than previously announced. Thus, the working force after the layoffs will reach about 35,000 and the number of subsidiaries will be cut from 120 to 50.
Japan Airlines requesting bail-out
Strongly hit by the economical recession, Japan Airlines (JAL) asked the government for a bail-out to help them survive. The company’s president, Haruka Nishimatsu, also proposed a drastic restructuring of its operations after meeting with Japan’s minister of transportation. Reorganization already started as Japan Airlines cut 6,800 jobs.
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