Delta in talks to take big stake in Japan Airlines

Delta in talks to take big stake in Japan Airlines
Comment E-mail Print Share
First Published: Fri, Sep 11 2009. 03 42 PM IST
Updated: Fri, Sep 11 2009. 03 42 PM IST
Tokyo: Delta Air Lines, the world’s biggest carrier, is in talks to invest in Japan Airlines Corp (JAL) and become its top shareholder, public broadcaster NHK said on Friday.
A JAL spokesman declined to comment on the report, which said Delta was in talks to invest several tens of billions of yen in Asia’s largest airline by revenue.
JAL is forecasting a net loss of ¥63 billion ($692 million) for the year to March, hit by the global economic slump.
It has been rushing to sell assets and slash costs after earlier this year securing a ¥100 billion credit line backed by the government. The deal requires it to take drastic restructuring measures under state supervision.
Comment E-mail Print Share
First Published: Fri, Sep 11 2009. 03 42 PM IST