AA, Delta jockey for JAL stake; DBJ considers bridge loan

[NM]

From ATW Daily News:

American Airlines and Delta Air Lines each continue to express a strong interest in financially troubled Japan Airlines, which reportedly is negotiating a ¥100 billion ($1.1 billion) short-term bridge loan with the Development Bank of Japan to fortify its cash position as it develops a longer-term restructuring plan.

 

[NM]

JAL posts big quarterly loss, seeks third-party mediation with creditors

From ATW Daily News:

Troubled Japan Airlines Friday reported a net loss of ¥32.1 billion ($357 million) for its fiscal second quarter ended Sept. 30, reversed from a ¥40.1 billion profit in the year-ago period, and announced it has applied for "certified alternative dispute resolution," an out-of-court mediation process that enables strapped Japanese companies to negotiate debt settlements with creditors.

 

[straitman]

SkyTeam Offers JAL $700 Million Support AW&ST

By Bradley Perrett

Delta Air Lines and its Skyteam partners are willing to pump $700 million of capital into Japan Airlines, which the transport minister now says might be allowed to go bankrupt and forced into a court-directed reorganization.

 

[drron]

The action appears to be hotting up.The Japanese transport minister has met with Delta and next week with AA.
Delta meets with minister on JAL | The Japan Times Online