Transportation
Will US Bailout Carriers Like Japan Will JAL?
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By Douglas A. McIntyre
Shares in JAL, the flagship carrier of Japan, rose by over 30% Monday as the Development Bank of Japan, which is backed by the government, said it would increase its credit line for the company to $2.2 billion. The move may not save JAL, but it gives the airline time to restructure, which means cost-cutting and reducing routes.
AMR (NYSE:AMR) and Delta (NYSE:DAL) have each offered investment capital of over $1 billion to take a minority interest in JAL. That would give one or the other U.S. carrier access to the Japanese company’s important routes in Asia, the fastest growing air travel market in the world.
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