Japan Airlines shares drop 45% as bankruptcy fears grow
One of the big name in world Airline industry is JAL (Japan Airline limited), and they are thinking of filing bankruptcy as soon as early next week. News excerpt taken from BBC news: #-Link-Snipped-#
Shares in Japan Airlines (JAL) fell by 45% to a new all-time low on Tuesday as fears grow that the carrier is heading for bankruptcy.
The fall came despite an improved offer of investment from American Airlines, up from $1bn to $1.3bn.
The US carrier is keen to link into JAL's lucrative Asian routes.
Meanwhile, JAL's current and former employees have agreed to cuts in the company's pension scheme payouts. The fund has a $3.6bn (£2.2bn) deficit.
Those cuts are crucial to the company gaining any government support.
Shares in Japan Airlines (JAL) fell by 45% to a new all-time low on Tuesday as fears grow that the carrier is heading for bankruptcy.
The fall came despite an improved offer of investment from American Airlines, up from $1bn to $1.3bn.
The US carrier is keen to link into JAL's lucrative Asian routes.
Meanwhile, JAL's current and former employees have agreed to cuts in the company's pension scheme payouts. The fund has a $3.6bn (£2.2bn) deficit.
Those cuts are crucial to the company gaining any government support.
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