British Airways owner IAG considers buying stake in Japan Airlines (JAL)

Posted: March 30, 2012 in Airlines, Asia
Tags: , , , , , , ,

International Airlines Group (IAG), is considering buying a stake in Japan   Airlines (JAL) amid expectations the Asian carrier will re-list on the Tokyo   stock exchange later this year.

International Airlines Group (IAG), is considering buying a stake in Japan Airlines (JAL)

Japan Airlines underwent a major re-structuring after receiving a state bail-out in early 2010 Photo: AFP

It is believed JAL, which de-listed in 2010 after it was forced to file for   bankruptcy protection, will seek to raise at least ¥500bn (£3.8bn), but   potentially as much as ¥1 trillion, through an initial public offering.

Willie Walsh, chief of executive of IAG, has long had his eye on JAL, a fellow   member of the Oneworld alliance, and last month announced a joint venture   between the two carriers on routes between Europe and Japan. IAG, which was born of the merger between British Airways and Iberia, said in   a statement: “JAL has done a great job in restructuring its business.   IAG would look closely at investing in JAL and wouldn’t rule it out at this   stage.”

The Japanese airline underwent a major re-structuring after receiving a state   bail-out in early 2010, which saw it cut routes and axe about a third of its   workforce.

It is believed other members of the Oneworld alliance group of carriers may   also seek to take a stake in JAL….

Full story from The Daily Telegraph here…..


By Nathalie Thomas
29 Mar 2012


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