Will US Bailout Carriers Like Japan Will JAL?
By Douglas A. McIntyre Shares in JAL, the flagship carrier of Japan, rose by over 30% Monday as the Development Bank of Japan, which is backed by the government, said it would increase its credit line for the company to…
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By Douglas A. McIntyre
Shares in JAL, the flagship carrier of Japan, rose by over 30% Monday as the Development Bank of Japan, which is backed by the government, said it would increase its credit line for the company to $2.2 billion. The move may not save JAL, but it gives the airline time to restructure, which means cost-cutting and reducing routes.
AMR (NYSE:AMR) and Delta (NYSE:DAL) have each offered investment capital of over $1 billion to take a minority interest in JAL. That would give one or the other U.S. carrier access to the Japanese company’s important routes in Asia, the fastest growing air travel market in the world.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
