Top Stories JAL Bailout Good For Guam
| JAL Bailout Good For Guam |
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| Written by David Macaluso, Guam News Factor Reporter | |||||||||
| Monday, 04 January 2010 18:29 | |||||||||
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Guam's Tourism Industry Can Exhale As Japan Airlines Keeps Afloat By David F. Macaluso GUAM - Struggling Japan Airlines was given a lift as the Japanese government agreed to double a state sponsored credit line to ¥200bn ($2.2bn). The Development Bank of Japan (DBJ), owned by the Japanese government, was asked by public officials to raise its commitment to JAL after ministers including Seiji Maehara, transport minister, and Naoto Kan, deputy prime minister, met to discuss how Tokyo could further support the distressed airline. JAL lost 25 percent of its stock value on the last trading day of 2009, dropping to a record low 60 yen before reaching 67 at the close of the bell, as traders feared that the government-led task force may decide for bankruptcy as a means to rescue the floundering airline. Today's (Monday's) news about DBJ expanding its credit line from 100 to 200 billion yen helped JAL shares jump 39 percent to 92 yen, before closing at 88 on the Nikkei (Tokyo Stock Exchange). JAL is still in talks with forming an alliance with either Delta Air Lines Inc. (DAL) or American Airlines (AMR). It may be more viable for JAL to join with Delta Airlines and their SkyTeam affiliates. SkyTeam has many Asian carriers which could offer more profit opportunities. It is believed JAL will determine which overseas carrier it will ally within the next few weeks. Add this page to your favorite Social Bookmarking websites          
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