Sep 18, 2009

JAL turnaround plans under review


Japan's new government has said it will review restructuring plans announced by Japan Airlines' (JAL) this week, which included cutting 6,800 jobs.

The plans were drawn up under a committee appointed by the previous administration, which was defeated in a general election at the end of August.

The new government said it will appoint a new committee to oversee the plans.

JAL lost about $1bn (£605m) between April and June as ticket sales fell during the global downturn.

"Since it is a framework formed by the Liberal Democratic Party government, we want to go back to a clean slate and select new members," said Japan's new transport minister Seiji Maehara.

The airline said it had "no idea" about how the review would affect its plans.

Reports suggest that Delta Air Lines, American Airlines and Air France-KLM are in talks with JAL over taking a stake in the troubled airline.



0 comments: