Japan Airlines denies liquidation claims: We arent bankrupt

Japan Airlines (JAL) has slammed bankruptcy rumors, which have been circulating the industry since last week. 

A JAL spokesperson told e-Travel Blackboard that a number of other media organizations have published erroneous reports that JAL is bankrupt. 

“The facts are that the revitalization plans for JAL are presently being formulated by the ETIC (Enterprise Turnaround Initiative Corporation of Japan) in cooperation with JAL. 

“A decision will be made mid to late January regarding what form of assistance will be offered to JAL.”

JAL has experienced financial difficulties for quite some time and currently owes more than $US5.8 billion ($6.5 billion).

JAL shares plunged to a record low in Tokyo trading last week, however the airline is still positive that it will experience a turnaround with the support of the Japanese government. 

“There have been no changes whatsoever in the full backing of the Japanese government of JAL.”

A JAL spokesperson also denied reports that JAL was planning to cut all of its international routes to cut costs, claiming that the story was 100% false.

“JAL will not be changed to a domestic carrier… We can assure you that it is business as usual for JAL.”



Source = e-Travel Blackboard: 
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