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Panel recommends Japan Airlines seek public funds

Panel recommends Japan Airlines seek public funds

Japan's transport minister says a panel recommends that struggling Japan Airlines apply for assistance from a government-affiliated corporate turnaround body, paving the way for it to tap public rescue funds.
Seiji Maehara told reporters Thursday that the five-person, government-appointed task force concluded that if appropriate measures are taken, troubled JAL could recover.
The turnaround body would review JAL's application to determine if public funds are indeed necessary.
JAL reported its biggest quarterly net loss of 99 billion yen in the three months to June, and has forecast a net loss of 63 billion yen for the current fiscal year to March 2010.


Updated : 2021-04-16 02:48 GMT+08:00