Transportation
JAL Could Be First Huge Airline Chapter 11 In Years
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Last Updated:
By Douglas A. McIntyre
A number of media, including the Nikkei business daily, are reporting that the Japanese government is considering taking its huge flagship carrier JAL into bankruptcy. The news follows recent proposals by both American (NYSE:AMR) and Delta (NYSE:DAL) over the last several weeks to put $1 billion into JAL. Their motivation: to get special access to JAL routes throughout Asia.
A bankruptcy might make it easier for the airline to cut employees and routes and perhaps restructure debt — actions that could allow the carrier to move back toward profitability as the economy improves.
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