by Staff Writers
Tokyo (AFP) April 25, 2012
Japan Airlines, the flag-carrier that went bust in 2010 in one of Japan's biggest-ever bankruptcies, has filed preliminary documents to relist on the Tokyo Stock Exchange, a report said Wednesday.
JAL could float again as early as July, Kyodo News said, citing anonymous sources close to the matter. The papers were submitted to the exchange in March, it added.
The move would complete an astonishing turnaround from January 2010, when the firm filed for bankruptcy with debts of about 2.32 trillion yen ($28 billion).
Under government supervision JAL carried out massive job and route cuts, guided by charismatic businessman Kazuo Inamori, in order to continue flying, and it completed bankruptcy proceedings in March last year.
New JAL President Yoshiharu Ueki, who stepped into the role in February, said recently the company expects to report on May 14 a higher than expected operating profit for the business year ended March 31.
It faced a decline in traffic after the deadly earthquake and tsunami that hit northern Japan in March 2011, triggering a nuclear crisis, but temporarily reduced flights and switched to smaller aircraft.
Aerospace News at SpaceMart.com
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All Nippon Airways boosts profit, sales forecast
Tokyo (AFP) April 23, 2012
Japan's All Nippon Airways (ANA) on Monday hiked its full-year profit forecast by some 40.0 percent, thanks to strong travel demand, cost cutting and gains on plane sales. The carrier, which operated the maiden commercial flight of Boeing's 787 Dreamliner late last year, said it now expects a 28.0 billion yen ($345.0 million) net profit for the fiscal year to March, up from an earlier 20.0 b ... read more
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