Troubled JAL seeks $1.4 bln bridge loan from banks

Published on Fri, Nov 13, 2009 at 16:54 |  Source : Reuters

Updated at Fri, Nov 13, 2009 at 17:15  

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Troubled JAL seeks $1.4 bln bridge loan from banks

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Japan Airlines, which is seeking a state bailout, seeks bridge loans totaling 125 billion yen (USD1.4 billion) from banks, executive officer Yoshimasa Kanayama said at a news conference on Friday.

JAL, which applied for mediated debt restructuring earlier on Friday, is seeking its fourth state bailout since 2001 as it grapples with USD15 billion in debt, a massive pension deficit and dozens of unprofitable routes.

 

  

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