| NEWS ARCHIVES |
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| Jap PM says JAL must avoid bankruptcy |
| 25 Sep 2009 |
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Japanese Prime Minister Yukio Hatoyama says Japan Airlines (JAL) must avoid bankruptcy.
Speaking at the G20 meeting in Pittsburgh, he says JAL has to improve its restructuring plans.
The carrier’s management will also be reviewed.
The Japanese government has set up a special team to study struggling JAL's rehabilitation plan.
Transport Minister Seiji Maehara and restructuring experts formed the team a day after JAL sought a public bailout to survive the recession.
A transport ministry official says the first meeting will take place today.
The special team is expected to study the measures intensively while making an assessment of the carrier's assets.
JAL, which lost more than one billion dollars in the April to June quarter, has announced plans to slash 6,800 jobs.
It will also pursue a tie-up with a foreign carrier as part of efforts to return to profit.
In addition, the airline will submit further rehabilitation measures to the government by the end of this month.
Japan's new centre-left government has ruled out allowing JAL to collapse,
But it says it would overhaul the restructuring process set in motion for JAL under the previous government. |