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03 Jan 10
13:26
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Date Joined:
05 Apr 06
http://news.bbc.co.uk/1/hi/business/8438337.stm
Japan Airlines has state-funded aid doubled
The airline is struggling with mounting debts
The Japanese government has agreed to double the offer of state-funded credit to Japan Airlines (JAL) to 200bn yen ($2.2bn; £1.3bn).
A state-run bank offered JAL aid of 100bn yen in November, and has already paid out more than half of that.
Shares in JAL, which made a loss in four of the past five years, fell to record lows last week as speculation mounted it would file for bankruptcy.
Like many airlines, JAL has been hit hard in the global economic downturn.
The extra funding was agreed by Deputy Prime Minister Naoto Kan, Transport Minister Seiji Maehara and other ministers at a meeting on Sunday.
"The government has decided to expand from 100bn yen to 200bn yen the line of credit from the Development Bank of Japan to Japan Airlines," an official statement said.
The announcement was made before trading resumes on the Tokyo Stock Exchange on Monday, after the New Year's holiday.
Japan Airlines has state-funded aid doubled
The airline is struggling with mounting debts
The Japanese government has agreed to double the offer of state-funded credit to Japan Airlines (JAL) to 200bn yen ($2.2bn; £1.3bn).
A state-run bank offered JAL aid of 100bn yen in November, and has already paid out more than half of that.
Shares in JAL, which made a loss in four of the past five years, fell to record lows last week as speculation mounted it would file for bankruptcy.
Like many airlines, JAL has been hit hard in the global economic downturn.
The extra funding was agreed by Deputy Prime Minister Naoto Kan, Transport Minister Seiji Maehara and other ministers at a meeting on Sunday.
"The government has decided to expand from 100bn yen to 200bn yen the line of credit from the Development Bank of Japan to Japan Airlines," an official statement said.
The announcement was made before trading resumes on the Tokyo Stock Exchange on Monday, after the New Year's holiday.
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Come on chit-chatters.....this is serious............!!
They are sad ....yes....so would you be if you worked for them...
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