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Article: Japan: Gov t outlines JAL rescue steps eyeing pension cuts, bridge loans.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
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Byline: babalu03
The government outlined rescue measures for Japan Airlines Corp on Tuesday that include a reduction in the company s generous corporate pension benefits and bridge loans by a state-owned bank to keep the cash-strapped airline operational.
Transport minister Seiji Maehara said the government is considering special legislation to ensure mandatory pension cuts, which would effectively pave the way for the injection of public funds.
But the announcement at a hastily arranged press conference lacked crucial details on the feasibility of the measures as the government rushed to disclose them before Japan s top airline reports its ...