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Article: GOVT TAKES CONTROL IN DRIVE TO SAVE JAPAN AIRLINES.
- Article from:
- AsiaPulse News
- Article date:
- September 28, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. 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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TOKYO, Sept 28 Asia Pulse - The government has stepped deeper into the rehabilitation of Japan Airlines Corp. (JAL)(TSE:9205), putting the troubled carrier's fate in the hands of a five-man task force set up Friday by Transport Minister Seiji Maehara.
This development suggests that JAL's turnaround process will now be led by the government.
The task force includes four former officials of the now-defunct Industrial Revitalization Corp. of Japan -- the public-private organization that handled the rehabilitation of Kanebo Ltd., Daiei Inc. (TSE:8263) and other businesses.
Former IRCJ Chairman Shinjiro Takagi has been named to lead the task force. ...