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Article: Banks mull 200 bil. yen in additional loans for Japan Airlines.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- January 14, 2007
CopyrightCOPYRIGHT 2007 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan. 14--TOKYO -- A group of government-backed and commercial banks are planning to extend around 200 billion yen in additional loans to struggling Japan Airlines Corp. contingent on its soon-to-be-released business plan, informed sources said Sunday.
Asia's largest airline has been short of capital in the face of growing needs to finance its restructuring efforts, rejuvenate its aging fleet and to pay for imminent redemption of bonds.
The Tokyo-based company's previous attempt to raise funds on the stock market to buy new aircraft did not meet its expectations. In July last year, it secured only around 140 billion yen through share issues against its ...