JAL To Get A Doulbe State-Funded Credit Line
JAL To Get A Doulbe State-Funded Credit Line
4 January 2010
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The Japanese government agreed Sunday to double a state-funded credit line for troubled Japan Airlines to 200 billion yen (2.2 billion dollars), local news agencies reported. The extra funding was agreed at a meeting of cabinet ministers including Transport Minister Seiji Maehara and Vice Prime Minister Naoto Kan, Jiji Press said. JAL, battered by the global recession and swine flu pandemic, is scrambling to slash costs and is seeking its fourth government bailout since 2001 to keep flying in the face of mounting losses.
SOURCE & PHOTO: AFP
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